Plante Moran representatives presented the City of Trenton’s annual audit for the year ended June 30, 2025, reporting an unmodified (clean) audit opinion and no audit findings in the current year (S17). The firm summarized the city’s general fund revenue at about $27.1 million, an increase of roughly $1.8 million (7%) over the prior year; property tax collections remained the largest revenue source at $17.6 million, up about $1.4 million year over year and primarily driven by an approximate 7% increase in taxable value (S18).

General fund expenditures were about $26.2 million (an increase of roughly $2.2 million, or 9.2%), with public safety and capital outlay contributing to the rise. The city’s unassigned fund balance was reported at about $5.6 million — approximately 21% of annual expenses — and the overall general fund balance increased to about $11.4 million (S18).

Plante Moran also reviewed pension and retiree health funding. The municipal employee retirement plan was reported at roughly 70% funded; police and fire pension funding approximated 77% (market-value basis cited near 76%); and the OPEB (retiree health care) plan improved to about 66% funded after actuarial experience adjustments reduced the estimated total OPEB liability (S18). When asked, Councilman Pucci (S15) inquired whether the OPEB increase from about 40% to 66% was typical; the auditor explained the change reflected actuarial experience differences after the COVID-era spike in health costs and said similar adjustments have occurred elsewhere (S17). The auditors emphasized there were no internal control or audit issues requiring council attention (S17).

The council accepted the presentation and had no further follow-up requests during the meeting.