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Michiana receives clean audit; reserves exceed GFOA guidance
Summary
The village’s 2024–2025 audit returned a clean opinion; auditors noted strong general fund reserves exceeding GFOA best practices and stable restricted special revenue funds.
The Village of Michiana’s annual audit for 2024–2025 was completed and the auditor issued a clean opinion, the council reported at its Dec. 12 meeting.
Minutes record that the auditor highlighted the village’s strong general fund, with reserves exceeding Government Finance Officers Association (GFOA) best practices, that special revenue funds are properly restricted and stable, and that fund balances provide significant financial flexibility. Council members congratulated staff for the result; TJ thanked staff and specifically thanked Treasurer Tracey McCay and Clerk Anne Heywood for their work.
The council accepted the audit report without noted exceptions.
