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Haven Group gives Pontiac a clean audit opinion; council presses for more real-time finance reporting
Summary
Auditors from the Haven Group reported an unqualified audit opinion for the fiscal year ending June 30, 2024, highlighting improved general fund balances and investment income but recommending continued attention to timely financial operations and internal controls.
The Haven Group's audit partner presented the city's audited financial statements to the Pontiac City Council on Jan. 21, delivering an unqualified (clean) opinion for the fiscal year ended June 30, 2024. The auditors' report also included an unmodified single-audit opinion for federal funds expended above the single-audit threshold.
Nut graff: The auditors reported that the city's general fund and overall governmental net position increased year-over-year, driven in part by investment income and some one-time…
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