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Audit shows "clean" opinion; commission approves corrective action plan for retiree health care
Summary
Plant Moran presented an unmodified opinion for Mount Clemens' 2018 audit, noting a $5.2 million ending general fund balance and an OPEB liability of about $52 million; the commission approved a corrective action plan under Public Act 202 to fund retiree health care and an investment adviser contract.
Plant Moran auditors told the Mount Clemens City Commission the city received an unmodified (clean) opinion on its 2018 financial statements and showed improvements across major funds, but auditors flagged retiree health (OPEB) as the primary long-term liability requiring attention.
Auditor Dave Harrington summarized the report: "It's called an unmodified opinion... a clean opinion," and said general fund revenues for the year ended June 30, 2018 were about $10,900,000 with an ending fund balance of about $5,200,000. He told commissioners the pension plan actually shows an…
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