Bay City audit: independent auditors give clean opinion; general fund balance at about 21%
January 06, 2026 | Bay City, Bay County, Michigan
This article was created by AI summarizing key points discussed. AI makes mistakes, so for full details and context, please refer to the video of the full meeting. Please report any errors so we can fix them. Report an error »
Bay City’s annual comprehensive financial report for the year ending June 30, 2025, received an unmodified (clean) opinion from Yo and Yo CPAs, the auditors told the City Commission on Jan. 5.
“At the end of our work you are issued an unmodified opinion, which is the highest level of assurance offered,” said Jamie Rivett, partner in charge of the audit for Yo and Yo. The firm also reported no material weaknesses or significant deficiencies in the city’s internal controls.
The presentation summarized the general fund and enterprise funds. Rivett said roughly 53% of general‑fund revenue came from taxes, and the city saw an 8% increase in taxable values that contributed to a year‑over‑year revenue increase (about $1.9 million). Rivett noted transfers out totaled about $3.5 million, including roughly $2.0 million moved to the public improvement fund.
The report shows the city’s general‑fund balance at about 21% of annual general‑fund expenditures—about two months of operating expenditures—above the Government Finance Officers Association’s 15–20% guideline, Rivett said. Capital and project spending increases included approximately $1.1 million in capital outlays for Maplewood and Bigelow parks, the auditors said.
The audit also included the single audit covering federal grants. Rivett said the coronavirus state and local fiscal recovery fund represented about 81% of the city’s federal expenditures for the year; the single audit produced no findings.
City Manager George Martini thanked the audit team and city staff for the work required to compile the ACFR and governance letter. Commissioners praised staff for multiple years of clean audits and asked routine follow‑ups about prior findings and the length of fieldwork; Rivett said fieldwork and review typically take several weeks and involve a small team.
The commission received the auditors’ materials as part of the meeting packet and asked staff to post presentation materials to the public portal after the presentation so residents can review the full report.
“At the end of our work you are issued an unmodified opinion, which is the highest level of assurance offered,” said Jamie Rivett, partner in charge of the audit for Yo and Yo. The firm also reported no material weaknesses or significant deficiencies in the city’s internal controls.
The presentation summarized the general fund and enterprise funds. Rivett said roughly 53% of general‑fund revenue came from taxes, and the city saw an 8% increase in taxable values that contributed to a year‑over‑year revenue increase (about $1.9 million). Rivett noted transfers out totaled about $3.5 million, including roughly $2.0 million moved to the public improvement fund.
The report shows the city’s general‑fund balance at about 21% of annual general‑fund expenditures—about two months of operating expenditures—above the Government Finance Officers Association’s 15–20% guideline, Rivett said. Capital and project spending increases included approximately $1.1 million in capital outlays for Maplewood and Bigelow parks, the auditors said.
The audit also included the single audit covering federal grants. Rivett said the coronavirus state and local fiscal recovery fund represented about 81% of the city’s federal expenditures for the year; the single audit produced no findings.
City Manager George Martini thanked the audit team and city staff for the work required to compile the ACFR and governance letter. Commissioners praised staff for multiple years of clean audits and asked routine follow‑ups about prior findings and the length of fieldwork; Rivett said fieldwork and review typically take several weeks and involve a small team.
The commission received the auditors’ materials as part of the meeting packet and asked staff to post presentation materials to the public portal after the presentation so residents can review the full report.
Don't Miss a Word: See the Full Meeting!
Go beyond summaries. Unlock every video, transcript, and key insight with a Founder Membership.
✓
Get instant access to full meeting videos
✓
Search and clip any phrase from complete transcripts
✓
Receive AI-powered summaries & custom alerts
✓
Enjoy lifetime, unrestricted access to government data
30-day money-back guarantee
