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Independent auditors give Ferndale unmodified opinion; parking fund shows long‑standing deficit
Summary
Manor Cost Harrison delivered FY2025 audited financial statements with an unmodified opinion and noted strong liquidity overall; the Auto Parking Fund remains in deficit and required longer‑term corrective plans under Michigan guidance.
An independent audit of Ferndale’s fiscal year ending June 30, 2025, delivered an unmodified opinion on the city’s financial statements and single audit, but staff and auditors noted material weaknesses and areas for process improvement.
Aaron Stevens, a principal with Manor Cost Harrison, told council the audit expressed "unmodified opinions" — the highest level of assurance — on the financial statements. He highlighted a governmental current ratio of about 3.25 and a general fund fund balance above $10…
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