Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Bay City audit: unmodified opinion; taxes and state revenue drive general fund gains, public safety accounts for 61% of spending
Summary
An independent auditor told the Bay City City Commission the city received an unmodified (clean) opinion for fiscal year ending June 30, 2024, with roughly $1.8 million net revenue and no material weaknesses identified. Commissioners asked for earlier distribution of audit materials and clarifications on actuarial adjustments to utility funds.
Mr. Martini, the lead auditor for the city’s independent audit engagement, told the Bay City City Commission the audit for the year ended June 30, 2024, resulted in an unmodified opinion — the highest level of assurance under generally accepted accounting principles.
He said the city’s general fund recorded about $25,600,000 in revenue for the year, with taxes comprising roughly 52% of that total (including about $9,500,000 in property taxes and $2,600,000 in payments in lieu of taxes). Total general fund expenditures were about $23,800,000; roughly 61% of those expenditures were for public safety (police, fire and community policing). For the fiscal year, revenues exceeded expenditures by about $1,800,000.
The auditor also discussed the city’s enterprise funds. He said the electric fund produced operating income of…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
