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Cascade Township auditor gives "clean" opinion; general fund holds about $8.6 million
Summary
Siegfried & Crandall delivered an unmodified opinion on Cascade Charter Township's financial statements and described a strong reserve position: total governmental fund balance about $23 million and an unassigned general fund balance of roughly $8.6 million (about 164% of annual expenditures). The board received the audit and placed it on the consent calendar.
Dan Valdhuizen of auditing firm Siegfried & Crandall told the Cascade Charter Township board that the firm issued an unmodified (clean) opinion on the township's 2025 financial statements and that the township is in strong financial condition.
"The financial statements are presented fairly," Valdhuizen said, and he noted the audit included a small number of adjustments—chiefly a fair-value correction for investments and an accounting change related to deferred inflows tied to special assessments, leases and a state grant. He said those adjustments were modest compared with audits the firm typically performs.
Valdhuizen highlighted the township's overall fund position: total governmental fund balance is about $23,000,000 and the unassigned balance in the general fund is about $8,600,000, which he said represents roughly 164% of current-year expenditures. He characterized that level as "very healthy" and a source of flexibility for large projects.
The auditor also reviewed retirement-plan figures. He reported a total pension liability of about $15,600,000 with plan net assets of roughly $10,500,000, producing a funded ratio near 67–68 percent. Valdhuizen said the township has seen improving trends and discussed the possibility of additional contributions to reach higher funding targets.
During questions, trustees and residents pressed Valdhuizen and staff on implications for planned Downtown Development Authority (DDA) work and a referenced not-to-exceed bond figure. Valdhuizen said the DDA has produced annual captures and revenues that make a $17,000,000 bond plausible in concept; he cautioned that specific projects and bids have not been finalized and that analysis would be required. Manager Jade and finance staff emphasized that a board authorization described as "not to exceed $17,000,000" does not commit the township to issuing that amount and that spending decisions and bid awards will come later.
Finance staff said the audit document and the required state reporting forms will be posted to the township's finance web page after the presentation. The board placed the audit on its consent calendar; the consent agenda, which included the fiscal year 2025 audit, was approved by voice vote.
Votes at a glance: - Agenda approval: motion by Trustee Shipley; voice vote carried. - Minutes (06/24/2026): approved by motion and voice vote. - Consent agenda (includes receipt and filing of the fiscal year 2025 audit): motion approved by voice vote. - Financial actions (invoices scheduled for payment on the 9th): approved by motion and voice vote. - Resolution 027-2026 (road closure for Forest Hills Central Homecoming parade, Oct. 9, 2026, 5:00–6:00 p.m.): motion by Trustee Shipley; roll-call vote recorded all present trustees voting yes; motion carried.
What the board will do next: staff said no formal board action was required to accept the audit beyond placing it on the consent calendar; state filings have been completed by staff where required. The auditor and finance staff offered to return for follow-up questions and to support implementation of recommendations such as possible efficiencies in cash management.
