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Ishpeming audit shows grant-driven gains; council focuses on 2026 CIP, campground power and cart ordinance
Summary
Anderson Tackman presented the city’s 2024 audit, noting roughly $8.8–$9.3 million of grant dollars recorded in business‑type funds and improved pension funding; council then discussed the 2026 budget, a $100,000 building assessment, Cedar Street paving, a lower hospital‑road estimate and options for campground power and cart purchases.
Anderson Tackman presented the Ishpeming city audit for 2024, telling the council the year’s large reported gain in business‑type activities was driven primarily by capital grant dollars recorded as assets rather than cash‑in‑pocket. "You added 8,800,000 in grant dollars in the sewer fund to support the project you're going in," auditor Michael of Anderson Tackman said, explaining the revenue is recorded and the related asset will be depreciated over 40 years.
The auditor said the city’s total net position reported about $45,000,000, with an unrestricted balance near $2,000,000. He highlighted pension funding as a positive trend: the municipal pension plan is now over 95% funded, while the police pension carries roughly a $12,100,000 liability and sits around 70% funded. The general fund ended the year with a loss of about $180,000 but closed with a fund balance near $743,000, the auditor said.
Council members pressed staff on timing for…
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