Jamie Rivett, an audit partner with Yo and Yo CPAs, told the Bay City Commission the firm issued an unmodified opinion on the city's financial statements for the year ending June 30, 2025, meaning the statements require no material modification. "I am happy to report we did not have any findings," Rivett said during the meeting.

Rivett walked commissioners through key numbers in the general fund, saying taxable value increases contributed to roughly an $1.9 million increase in revenue year over year. She said about $14,700,000 in taxes was reported and that roughly $10.9 million of that was related to property taxes. State shared revenues and state grants together comprised about 24% of general fund revenues, Rivett said.

On expenditures, Rivett said public safety (police and fire) accounts for over half of general fund spending and that increases in salaries and benefits, transfers to capital projects and park construction explained year-over-year expenditure growth. She reported the city's general fund balance was about 21% of expenditures, slightly above the Government Finance Officers Association's recommended 15%–20% range.

The audit also included a single-audit covering federal grants. Rivett said the city spent more than $750,000 in federal grants this year and that the audit of the Coronavirus State and Local Fiscal Recovery Fund (noted to be about 81% of related federal spending) produced no findings.

Commissioners raised questions about how audit documents are posted online, the history of past findings and whether any material items from prior years required corrective action. Rivett and City Manager George Martini said prior findings had been addressed through corrective action plans and follow-ups. Martini explained that debt covenants and fund accounting limit the city's ability to reassign certain enterprise fund balances (for electric, water and sewer) to the general fund.

The audit presentation concluded with commissioners thanking Rivett and city staff for their work. The commission received the report and declined to take further immediate action at the meeting.