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Audit finds clean opinion; city reports $7.2 million general fund balance and plans to draw it down for equipment and projects
Summary
An independent auditor gave East Grand Rapids a clean audit and the city reported a $7.2 million general fund balance, plans to spend down reserves for capital purchases including a $1.7 million ladder truck and other equipment, and will continue monitoring fund use.
An independent audit presented to the East Grand Rapids City Commission found no material weaknesses and gave a clean, unmodified opinion on the city’s financial statements.
Auditor Doug Bridal told the commission the comprehensive annual financial report shows a net positive change in the general fund of about $537,000 for the fiscal year and a total general fund balance of roughly $7.2 million. "In our opinion, the statements present material respects the financial position of the city,"…
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