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Wixom council accepts FY2024-25 audit showing $6.3M unassigned fund balance and clean opinion
Summary
Council accepted the city's FY2024-25 financial audit, which auditors said received an unmodified (clean) opinion; key figures cited included an unassigned general fund balance of about $6.3 million (roughly 38% of general fund expenditures), about $16.3 million in general fund expenditures and transfers, and OPEB funding above 100%.
The Wixom City Council voted Dec. 16 to accept the city's fiscal year 2024-25 financial audit after auditors told the council the statements earned an unmodified (clean) opinion.
Auditors from Plante Moran summarized the year's results, saying the city's unassigned general fund balance was about $6.3 million as of June 30, 2025, and that general fund expenditures and transfers for the year were roughly $16.3 million. The auditors said the unassigned fund balance represents about 38% of annual general fund expenditures and transfers. They also reported that the city invested roughly $4.2 million in capital assets during the year, the pension plan was about 84% funded and the retiree health care (OPEB) funding exceeded 100 percent.
"It was a clean audit," the lead auditor said, noting there were no significant deficiencies or material weaknesses. The post-audit letter also outlined administrative and legislative notes: the federal single-audit threshold is increasing from $750,000 to $1 million and the capitalization threshold under uniform grant guidance would rise from $5,000 to $10,000; those changes had no material effect on Wixom's statements for the year.
Deputy Mayor Thomas Resnik asked whether large losses and a reported $55 million fraud affecting a merged municipal retirement system could expose participating municipalities; the auditors said they did not believe municipalities would be exposed but could not categorically rule it out.
After brief council remarks thanking Finance Director Marilyn Stanford for the department's work, the council moved, seconded and approved a motion to accept and file the audit so auditors can submit it to the State of Michigan.
The council recorded the vote and the motion carried; councilmembers praised the finance team for maintaining budget controls and avoiding budget overages during the year.
The council's acceptance allows the auditors to file the official audit documents required by state reporting deadlines. No follow-up actions or findings were recorded in the audit presentation.
