The city once again received an “unmodified/clean opinion,” the highest level of assurance in financial transparency and accountability, for the Annual Comprehensive Financial Report (ACFR). Yeo & Yeo, PC, an independent firm of licensed, certified public accountants, presented the ACFR at a city council meeting on December 19, 2022.
The ACFR covers the 2021-2022 Fiscal Year ending June 30 and is divided into four sections: Introductory, Financial, Statistical, and Continuing Disclosure.
Highlights of the Annual Comprehensive Financial Report 2022 include:
• For this report, General Fund revenues totaled $35,906,350. This amount is $3.5 million less than the previous year; the previous year included Cares Act money from the state for Covid-19 relief. The city also moved the golf course, ice arena, pool, and harbor activities from the General Fund into a Recreational Fund. These two items are responsible for the reduction of revenues.
• General Fund expenditures totaled $35,917,112, about $360,000 higher than the previous year. Though the amount was consistent, the percentages of where the money was spent is different; this year’s expenses did not include the golf course, ice arena, pool, and harbor. These expenditures do include Public Safety, Community and Economic Development, General Government, Recreation and Culture, and Other.
• The Police Department is working toward accreditation through the Michigan Association of Chiefs of Police. It continues to apply for grants for equipment and labor.
• The Fire Department has again received the American Heart Association Mission Lifeline Gold Plus Level award in recognition of outstanding cardiac care. With three Battalion Chiefs and one Fire Marshal retiring, the department promoted multiple officers and hired three new firefighters.
• The Parks and Recreation Department improved many park playgrounds and accessibility to the parks with new parking lots and walkways. Veterans Park and the Senior Center for Active Adults restored programs after the Covid shutdown. Civic Arena now has a skate rental. The programs and classes at the arena are also back in full swing.
• The Department of Public Works continues to improve/replace water lines, inspect sewer lines, and make necessary repairs. It continues with the annual street repairs and does full street replacements.
For more information about the 2022 ACFR, visit www.scsmi.net under the Finance Department or contact the Finance Department at 586-447-3324. The library and Clerks Office counter also have copies of the ACFR for review.