Huntington Woods accepts 2024–25 financial statements after auditors issue clean opinion

The Huntington Woods City Commission voted Nov. 18 to accept the city’s 2024–25 financial statements after auditors issued an unmodified opinion.

Dane Porter, senior manager with the city’s auditors, told the commission the audit produced a "unmodified opinion. It's a clean opinion," meaning the financial statements "represented fairly, in all material respects." Porter highlighted a current ratio of about 2.5 (current assets to current liabilities), pension funding of roughly 70 percent, an OPEB liability funded at about 76 percent, and approximately $28,000,000 in long‑term governmental debt. For the fiscal year the city added about $823,000 to total net position.

The general fund reported total revenues of $10,048,916 and expenditures of $6,598,001.23; transfers out were about 37% of general fund expenditures. The city used about $488,000 of fund balance in 2025 (versus adding about $134,000 the prior year); commissioners said major uses included emergency HVAC work at city buildings and pavement replacement at the DPW yard.

Porter also noted upcoming reporting changes to take effect in the next year, including new GASB presentation requirements and disclosure changes for certain capital assets.

Commissioners asked for a followup table showing where general‑fund transfers go; the auditor pointed to the MD&A tables in the full financial statements and agreed to provide more detail. The commission voted to accept the statements and staff confirmed the report must be filed with the state by the end of the year.