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Platt Moran audit: South Lyon posts unmodified opinion, fund balance rises to $7.8 million
Summary
External auditors gave South Lyon an unmodified opinion for fiscal year ending June 30, 2025, noting a $1.1 million increase in general fund balance, continued infrastructure spending and improved pension and OPEB funding levels.
South Lyon — Platt Moran presented the city’s financial statement audit for the year ended June 30, 2025, to the City Council on Oct. 13 and issued an unmodified (clean) opinion, the auditors’ highest level of assurance.
The auditors reported an increase in the general fund balance of $1,100,000 to $7,800,000 from the prior year. Of that total, auditors said about $7,500,000 is unassigned and available for general purposes. Tim Saint Andrew and Phil Femenino of Platt Moran presented…
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