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Audit: Marquette posts $684,000 general-fund surplus and $8M net position increase
Summary
Auditor Mike Gintz reported the city’s FY2025 audit shows a net position just over $100 million (up roughly $8 million), a $684,000 positive general fund result and a net pension liability around $33 million; utility fund gains were offset by debt payments.
Auditor Mike Gintz of Anderson Taichman presented the fiscal year 2025 audit and told the commission the city’s consolidated net position is just over $100 million, an increase of about $8 million from the prior year. Gintz said the general fund came in positive by about $684,000 compared with an originally budgeted $80,000 deficit.
Gintz noted the government-wide unrestricted equity showed an apparent $19 million deficit when pension liabilities are considered and reported a net pension liability of roughly $33 million. He explained that although utility funds showed a combined net increase of about $5.7 million for the year, those gains must cover roughly $3.2 million in debt payments, leaving a smaller net improvement.
The auditor walked commissioners through fund‑level details (water, sewer, stormwater) and cautioned that timing of projects and debt payments affects results. He also highlighted that property taxes remain the largest revenue source for the general fund (about 69 percent).
Commissioners thanked staff and noted improvement in transfers out and debt-service trends. The presentation concluded with an offer to answer further questions and to provide more detail on request.
