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Bay City accepts clean audit for fiscal year ending Sept. 30, 2025
Summary
An independent auditor gave Bay City an unmodified opinion for FY 2025, reporting no findings; council accepted the annual comprehensive financial report and praised staff for maintaining reserves above the city's policy.
Bay City council voted to accept the annual comprehensive financial report for the fiscal year ending Sept. 30, 2025, after a presentation from the independent auditors.
Melissa Terry of Harrison, Wodrop & New Herrick said the firm issued an unmodified (clean) opinion dated March 26, 2026, reporting no findings, no fraud and no material weaknesses in internal control. "The city received an unmodified opinion," Terry told council, and she encouraged members to consult the report's management discussion and statistical section for context. Finance director Jennifer Davis reminded the public that the report is posted on the city’s transparency site.
The audit's management discussion noted the general fund's unassigned fund balance at about 35% of expenditures, above the council's 25% minimum. Auditor Terry also explained the single-audit requirement for federally funded programs and noted required GASB accounting changes had been implemented. After questions, the council moved to accept the report; the motion carried.
Council members and staff said the clean opinion reflected strong internal work and oversight and thanked the finance team for preparing the report. The auditor and staff said the city will continue routine audits and pursue the GFOA certificate of achievement for financial reporting.
