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Independent auditors give Ypsilanti clean opinion; pension and GASB changes flagged
Summary
External auditors Clark Schaefer Hackett issued an unmodified opinion on the city’s FY2024 financial statements, noting growing general-fund balances but identifying long-term pension liabilities and upcoming GASB standards — including possible recognition of deferred road-maintenance liabilities — as future fiscal considerations.
City auditors Clark Schafer Hackett presented Ypsilanti’s fiscal year 2024 audit on Wednesday and issued an unmodified opinion — commonly called a "clean" opinion — on the city’s financial statements.
Auditor Palmer Elaskari told council that general-fund revenues exceeded expenditures for the year and that property-tax growth and investment earnings improved the city’s financial position. The auditors reported the general fund could cover roughly 71% of the next year’s expenditures from fund balance and noted the major-street fund ran a slight deficit because capital…
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