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South Lyon council approves $75,250 audit contract with Plante Moran
Summary
The South Lyon City Council voted to hire Plante Moran to perform the fiscal year 2025 audit at an estimated cost of $75,250; council members were told staff aims to resolve a longstanding reconciliation issue with the Department of Treasury before the fiscal year ends.
The South Lyon City Council approved a professional services agreement with Plante Moran to perform the city’s audited financial statements for the fiscal year ending June 30, 2025, at an approximate cost of $75,250.
The audit contract matters because the audit will produce the city’s year-end financial statements and notes, and staff said it aims to resolve a previously reported reconciliation issue involving cash bonds before the fiscal year closes.
Patricia (staff member) told the council, “The approximate cost of the engagement this year will be $75,250,” and said Plante Moran will begin interim field work next week. Patricia said the firm proposes a field-work period of roughly three weeks for year-end audit fieldwork, with additional time for internal review at the firm before reports are finalized for the city.
Council member Kurzweil asked whether the outstanding reconciliation had been resolved. Patricia said staff is still working with the Michigan Department of Treasury and city attorney Lisa Hammami and expects the matter to be resolved before the end of the fiscal year. Patricia said amounts the city cannot tie to a builder are likely to be remitted to the state as unclaimed property, subject to further guidance from Plante Moran and the Department of Treasury.
Council member Bogart moved to approve the contract with Plante Moran; Council member Mosher seconded. Deputy Clerk Piper conducted a roll-call vote; council members Kibble, Mosher, Hertzweil, Jog, Hansen, Mayer and Bogart all voted yes and the motion passed.
The contract includes a 3% increase from the prior year’s engagement (about $73,000 last year). Plante Moran will begin interim audit work the week after the meeting and will return for the formal audit field work later in the audit schedule.
