Rogers City audit shows solid fund balance
ALPENA — Accountant David Gwizdala said there wasn’t anything too noticeable in the City of Rogers City’s financial audit.
The accountant with Quast, Janke and Company in Bay City presented to the council at Tuesday’s meeting.
“These are your financial statements. The only thing we do is the opinions,” he said.
He said there’s nothing too “earth shattering” about the city’s audit.
In the governmental funds balance there is $704,000. He said as the city stands it’s in great shape.
“The one thing about general fund you transferred a bunch of money to other funds, $146,000 out. So the general fund, even though it has a small loss would’ve had a significant surplus had you not transferred that money to support some of the other funds. That’s part of your whole budgeting process,” he said.
He suggested council find ways to stop that many transfers.
“In enterprise funds business type funds, more and more municipalities are going negative because of debt. Your net position is positive across all funds that’s a very positive thing,” he said. “Marina had $114,000 loss. The positive thing about that because a loss is never good, you can’t sustain it forever but depreciation was $154,000. So from a cash flow standpoint you’re not bleeding cash from the marina.”
He also said the street fund looks strong. He discussed the Michigan Department of Transportation performance audit. He said auditors have been asked to take a harder look at the money due to the condition of roads in Michigan. He said state auditors want to make sure all the money sent to the city for state roads is spent on state roads.
“I venture to guess if the state handled the road situation the way that Rogers City did taxpayers would probably be happier then they are. We have a plan and we’re sticking to it,” City Manager Joe Hefele said.
Jordan Spence can be reached via email at firstname.lastname@example.org or by phone at 358-5687.