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City auditor reports unmodified opinion; Port Huron posts $2.55M increase in general fund in FY2025
Summary
UHRI partner Karen Shafiq presented the FY2025 audit to council, reporting an unmodified (clean) opinion and noting general fund revenues of $40.25M, expenditures of $37.99M, and a $2.55M net increase in the general fund balance.
Karen Shafiq, partner overseeing the UHRI audit, presented a summary of the city's fiscal 2025 financial statements and told council the audit resulted in an unmodified opinion. "You have an unmodified opinion as noted on pages 10 through 14 of the report," Shafiq said.
Shafiq reported general fund totals at June 30, 2025: assets of $15,822,430; liabilities of $3,916,653; deferred inflows of $2,435,723; and a fund balance of $9,470,054. For the year ended June 30, 2025, she reported total revenues of $40,252,654 and total expenditures of $37,989,000, yielding a net change in the general fund balance of $2,553,991.
Council members asked about the gap between revenue and expenditures; the city manager and staff explained that a one-time influx of American Rescue Plan (ARP) funds and bond proceeds (for a fire station) explained the deviation. Shafiq also summarized the city's unassigned fund balance at roughly $6.92M, about 17.8% of 2025 expenditures and transfers.
Council voted to receive and file the audit presentation. Shafiq noted additional details in the full report, including internal control comments and management letters in the packet.
