Audit Shows St. Clair Shores Had a Surplus in the 2012 Budget
Auditors for Plante & Moran stated the city finished the 2011-2012 fiscal year with a nearly $2 million budget surplus and received the best opinion possible from their auditors.
St. Clair Shores ended the 2012 fiscal year with a $2 million surplus according to an audit presented to City Council Monday by Plante & Moran. The $2 million surplus will be placed in the so-called "rainy day fund," which now stands at $14 million. Had the city done nothing over the past year, the initial estimates the city would have needed to withdraw $2.5 million from the "rainy day fund" to balance the budget. "The department heads work daily to make sure that we are within our budget," said Mayor Kip Walby. "They deserve the credit and will hopefully continue on." The city received an "unqualified" opinion from Plante & Moran, which is the best opinion a city could receive from their auditors. Council and administration was also …
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