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Council accepts clean fiscal 2024 audit; general fund posts ~$3.06M increase
Summary
Holland City Council accepted an unmodified audit opinion for fiscal 2024. Auditors reported an increase in general-fund balance of about $3,061,000 to an ending balance of $16,282,629 and a net pension liability of about $30.2 million; auditors noted timing/reconciliation items at the Holland Board of Public Works.
Holland City Council on Dec. 18 accepted the city's fiscal 2024 audit after a presentation by auditors from Raymond Robson. Auditor Paul Matz told the council he issued an unmodified (clean) opinion on the city's financial statements and summarized several highlights: a roughly $3,061,000 increase in the general-fund balance, an ending general-fund balance of $16,282,629 (including about $2,137,000 set aside for budget stabilization), ARPA-related unearned revenue of roughly $400,000–$500,000 remaining at June 30, and a net pension liability of about $30,200,000 with a portion attributable to Holland Board of Public Works funds.
Matz said auditors had one matter to communicate focused on timely reconciliations within the Holland Board of Public Works and described plans discussed with BPW leadership and its audit committee to improve timeliness. Council members praised the finance staff for producing a Popular Annual Financial Report (PAFR) intended to make the audit accessible to the public.
Council member Rowan moved to accept the audit and the PAFR; Freeman seconded. The motion passed by unanimous roll-call vote.
What happens next: the PAFR will be posted on the city website and staff said they will continue to monitor BPW reconciliation timing and follow up with the audit committee as needed.
