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Eastpointe City receives unqualified FY24 audit; council approves backhoe purchase and several appointments
Summary
The auditor presented an unqualified FY24 opinion; Council received and filed the audit, approved purchase of a $156,775.94 Cat 420XE backhoe (to be funded with budgeted amounts and trade-in proceeds), accepted a parks commission resignation and reappointed two planning commissioners.
The fiscal year 2024 audit for Eastpointe City was presented to council on Dec. 17 and received an unqualified opinion with no additional comments, the auditor said. The auditor highlighted a general fund increase of $1,568,000 (which includes a $484,000 required accounting adjustment), higher-than-expected investment income that ended the year at $832,000, receipt of approximately $160,000 in new opioid-related settlement funds (restricted), and a long-running cumulative building-fee shortfall cited at about $6,000,000.
The auditor reported a net position of negative $3,900,000 driven largely by pension and retiree health liabilities; pension funding rose to about 57% and retiree health funding to about 51% after recent changes. The presentation also summarized roughly $80,000,000 invested in roads, sidewalks and water/sewer infrastructure over the past decade and noted a roughly $20,000,000 project planned to start soon.
Council moved to receive and file the audit and the motion carried unanimously.
On a separate item the council approved purchasing a new 2024 Cat 420XE backhoe under contract No. 240000165 from Michigan Cat of Macomb for $156,775.94, and authorized sale/trade of the 2012 Caterpillar (trade-in discussed at roughly $35,000). Council members noted the purchase was covered by budgeted funds and trade-in proceeds. The motion to purchase passed by roll call.
Council also voted to accept a resignation from the parks commission and reappointed Kimberly Naylor and Wanda Moody to the planning commission with staggered term dates discussed and amended on the record.
Council approved payment of payroll and bills as presented. The meeting later recessed into closed session for discussion of real property purchase/lease and attorney-client privileged matters under MCL 15.2681(d) and (h), then returned and adjourned.
All votes on the audit, backhoe purchase, resignations and reappointments were recorded by roll call during the meeting.
