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Mount Clemens audit shows improved fund balance, flags retiree health liability
Summary
Independent auditors delivered an unmodified opinion on the City of Mount Clemens' FY2019 financial statements, reporting $11.9 million in revenue and a rising fund balance while noting a significant but reduced OPEB liability tied to actuarial assumption changes and a new trust.
Plante Moran presented the City of Mount Clemens' fiscal 2019 audit to the commission, reporting an "unmodified opinion" on the city's financial statements and noting that the general fund's position improved year over year.
Lisa Planca, a governmental auditing partner with Plante Moran, told the commission, "our results of our audit is what is referred to as an unmodified opinion," saying the audit showed the city's financial report is "materially correct" and in accordance with applicable governmental accounting…
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