Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Audit topic
No spam. Unsubscribe anytime.
Royal Oak Commission accepts FY2025 audit; auditors report clean opinion with one improvement item
Summary
Commissioners accepted the FY2025 Comprehensive Financial Report and Single Audit after Raymond auditors reported an unmodified (clean) opinion with no federal findings; auditors noted one comment about a growing State Construction Code Act special revenue surplus.
The Royal Oak City Commission on Dec. 15 accepted the fiscal year ending June 30, 2025, Comprehensive Annual Financial Report and the Single Audit after receiving presentations from city finance staff and auditors.
Kim Coy of the finance department introduced the reports and Dan Merritt, signing engagement principal for Raymond, told commissioners the audit resulted in an unmodified (clean) opinion with no findings for the fiscal year. "If I say nothing else this evening, that is the most important thing that I can communicate to you," Merritt said, noting the city received a clean audit and a timely filing.
Merritt explained the auditor assessment found accounting estimates reasonable and praised the work of the city finance team. He noted one comment for improvement discussed in the audit subcommittee related to the State Construction Code Act special revenue fund, which has carried a surplus balance for a number of years. He also said the single audit over federal awards identified the CDBG program as the major program and found no issues.
Commissioner Chisholm moved to accept the comprehensive financial report, independent auditors' communication and the Single Audit compliance report; Commissioner Gantina seconded and the commission approved the motion by voice vote.
Merritt and staff also noted the city completed spending its ARPA funds in 2024, which reduced federal award amounts subject to single audit requirements this year.
