Auditors give Bloomfield Hills a clean opinion; board accepts financial statements and is seeking voter approval of sinking fund replacement

Jennifer Chambers of Plant Moran presented the annual financial audit for the fiscal year ending June 30, 2025, and told the Board of Education on Oct. 27 that the firm had issued an unmodified opinion on the district's financial statements.

Chambers said compliance testing of sinking fund and bond expenditures revealed no issues. She noted the separate federal programs audit (single audit) is complete as to testing and contained no findings for tested programs, but formal issuance is pending release of the federal Office of Management and Budget compliance supplement.

Manager Jeb reviewed key financial figures: general fund revenue of approximately $110.5 million, expenditures around $108.7 million and an ending general fund balance of about $24.5 million. He highlighted that employee salaries and benefits comprised the largest share of general fund expenditures (about 81.7 percent of expenditures by object) and described a state pass-through retirement payment (the presentation identified a one-time 1407(c)(2) payment and ongoing 1407(c)(1) deposits) that affected reported amounts.

After the presentation a board member moved to accept management's statements for the fiscal year as audited. The board approved the motion 6—0.

Separately, Superintendent West reminded the public that a sinking fund replacement proposal will appear on the Nov. 4 ballot. Staff described the proposal as a replacement and extension of the current sinking fund, authorizing the levy of 1.5 mills for 10 years, and encouraged voters to learn more and cast ballots.

Provenance: audit presentation and board vote during Oct. 27 meeting (see transcript excerpts).