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Airport authority accepts audited financial report showing $7.04 million net position
Summary
The Manistee Blacker Airport Authority voted unanimously to accept the annual audited financial statements for the year ended Sept. 30, 2025. Management reported a net position of $7,036,016 and a year‑over‑year decrease in net position of $277,316.
The Manistee Blacker Airport Authority voted 7–0 on April 20 to accept the Manistee Blacker Airport Authority Annual Financial Report for the year ended Sept. 30, 2025, after an online presentation from auditor Richard Neidhardt of Gabridge & Company.
In its management discussion, the report says, “The assets of the Airport exceeded its liabilities at the close of the most recent fiscal year by $7,036,016 (net position).” The statements show total revenues of $7,563,601 and expenses of $7,840,917 for the year, resulting in a decrease in net position of $277,316. The audit opinion by Gabridge & Company, dated March 24, 2026, was unmodified.
Board members discussed routine budget and fund-balance items during the presentation. The board approved acceptance of the report on a motion by Karen Goodman with support from Michael Schrader, recorded as Yeas: 7, Nays: 0. The accepted audit and related schedules (including the single‑audit and PFC schedules) will be available with the airport's annual financial materials.
The board’s vote to accept the audit completes the formal review of FY2025 financial statements; management said the airport continues to monitor grant receivables and accounts payable items that influenced year‑end balances.
