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City auditor gives Madison Heights clean audit; GFOA budget award highlighted
Summary
An independent auditor told council the city's financial statements for the fiscal year ending June 30, 2025 are expected to receive an unmodified opinion; the city also received the GFOA Distinguished Budget Award for FY2026. Auditor highlighted rising property valuations, improved investment income, and recent additional pension contributions.
City auditors and finance staff presented the fiscal year 2025 financial statements and a budget award update at the Nov. 20 meeting, telling council the statements are expected to receive an unmodified (clean) opinion.
Dan Merritt, a principal with Raymond, said an unmodified opinion indicates the firm believes the city’s financial statements are "fairly presented in…
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