Taylor auditors deliver unmodified opinion on FY2025 financial statements; council hears fund‑balance caution

Plant Moran audit partner Bill Brickey told the Taylor City Council on Jan. 20 that the city’s financial statements for the year ended June 30, 2025, received an unmodified opinion — the highest level of assurance an auditor can provide.

The auditors also reported that the city complied with federal‑grant requirements in the year under the single‑audit rules. Brickey said the city spent just over $5.2 million in federal funds during the year and that Plant Moran specifically tested $4.7 million of American Rescue Plan Act (ARPA) expenditures and found no compliance findings or questioned costs.

In a graphical presentation, Plant Moran manager Nate Sherb said the general fund increased by approximately $4.0 million in the year — about $2.7 million higher than budgeted — and that the city’s unassigned fund balance stood at $20,600,000, or about 39.8% of current‑year expenditures (roughly 145 days of coverage). Sherb noted that between governmental and enterprise funds the city recorded about $16.6 million in capital investments during the year and paid down about $3.2 million of long‑term debt.

Sherb also noted legacy liabilities: the net pension and other‑post‑employment‑benefit liability totaled roughly $230,450,000, with the transcript reporting funding levels across plans (general employees ~61%, MERS plan ~60%, OPEB ~5%, police and fire ~71%).

During council questions, a member asked whether the roughly $20 million rainy‑day reserve was “normal.” Brickey said Taylor’s reserve level is well above common minimums (often cited around 15–20%), but cautioned council that much of the increase resulted from one‑time ARPA revenues and that the city should consider that when setting future budget and policy decisions.

The council then voted to receive and file the audit presentation and related materials as presented by Plant Moran.