By David Fleet
dfleet@mihomepaper.com
Goodrich — On March 10, the village council discussed an audit report from PSLZ, certified public accountants for the fiscal year ending June 30, 2024.
Rana Emmons, audit partner and managing director delivered the report to the council.
According to the 2024 audit, the village’s combined total net position is reported as $3,068,785 up from $2,719,045 for the fiscal year ended June 30, 2023.
The village’s governmental activities, revenues generated were $1,434,802 while expenses totaled $1,086,357. Compared to 2023 the revenues were down from $1,519,295 while expenses increased from a total of $1,046,427.
The Village’s business-type activities, revenues generated were $555,408 while expenses totaled $554,113.
The total net position increased by $349,740 in 2024. In 2023 the net position increased by $435,001.
“The village received the highest level possible which is an unmodified audit opinion,” said Emmons. “That’s the best you can get.”
Property taxes, the largest form of revenues, were up 6.9% this year, the state shared revenues were flat this year and no projection of an increase in 2025.
“The property tax was higher due to additions (built), homes that have become uncapped following a sale and new homes built,” she said.
Last year the property taxes were up 4% and state shared revenues up 3.2%.
“Operating expenditures were consistent from the year before,” said Emmons. “The village added $201,063 to the fund balance in 2024.
In comparison $236,534 was added to the general fund in 2023
Total expenditures came in under budget by $339,317.
“Your under budget and added to your fund balance and that is very positive,” she said. Thanks to the council and the staff. They do a really nice job.”