Presented by David Youngstrom, CPA Jamie Rivette, CPA Presented on January 22, 2013 Prepared by Yeo...
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Transcript of Presented by David Youngstrom, CPA Jamie Rivette, CPA Presented on January 22, 2013 Prepared by Yeo...
![Page 1: Presented by David Youngstrom, CPA Jamie Rivette, CPA Presented on January 22, 2013 Prepared by Yeo & Yeo, P.C.1 City of Saginaw Audit Results June 30,](https://reader035.fdocuments.in/reader035/viewer/2022062805/5697c0091a28abf838cc72fb/html5/thumbnails/1.jpg)
Presented by
David Youngstrom, CPAJamie Rivette, CPA
Presented on
January 22, 2013
Prepared by Yeo & Yeo, P.C. 1
City of Saginaw
Audit Results
June 30, 2012
![Page 2: Presented by David Youngstrom, CPA Jamie Rivette, CPA Presented on January 22, 2013 Prepared by Yeo & Yeo, P.C.1 City of Saginaw Audit Results June 30,](https://reader035.fdocuments.in/reader035/viewer/2022062805/5697c0091a28abf838cc72fb/html5/thumbnails/2.jpg)
Audit Opinion• CAN ONLY BE ISSUED BY A LICENSED CPA FIRM • HIGHEST LEVEL OF ASSURANCE • MANAGEMENT RESPONSIBILITY • AUDITOR'S RESPONSIBILITY • UNQUALIFIED OPINION PRESENT FAIRLYIN ALL MATERIAL RESPECTSFINANCIAL POSITION
Prepared by Yeo & Yeo, P.C. 2
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City of SaginawGeneral Fund Revenues
June 30, 2012
Prepared by Yeo & Yeo, P.C. 3
Income taxes: $12,533,025
39%
Property taxes: $3,527,803
11%
Inter-governmental: $7,074,369
22%Charges for Services:
$1,481,8095%
Other: $467,2521%
Licenses and Permits: $1,913,003
6%Fines and
Forfeitures: $696,889
2%Grants and
Contributions: $3,887,748
12%Transfers: $826,384
2%
![Page 4: Presented by David Youngstrom, CPA Jamie Rivette, CPA Presented on January 22, 2013 Prepared by Yeo & Yeo, P.C.1 City of Saginaw Audit Results June 30,](https://reader035.fdocuments.in/reader035/viewer/2022062805/5697c0091a28abf838cc72fb/html5/thumbnails/4.jpg)
City of SaginawGeneral Fund Revenues
June 30, 2011
Prepared by Yeo & Yeo, P.C. 4
Income taxes: $12,235,713
34%
Property taxes: $2,945,388
8%
Inter-governmental: $8,920,027
25%
Charges for Services:
$1,592,9215%
Other: $490,4891%
Licenses and Permits: $1,683,354
5%Fines and
Forfeitures: $326,715
1%
Grants and Contributions: $5,123,670
14%Transfers: $2,492,500
7%
![Page 5: Presented by David Youngstrom, CPA Jamie Rivette, CPA Presented on January 22, 2013 Prepared by Yeo & Yeo, P.C.1 City of Saginaw Audit Results June 30,](https://reader035.fdocuments.in/reader035/viewer/2022062805/5697c0091a28abf838cc72fb/html5/thumbnails/5.jpg)
Excludes transfers 5
City of SaginawGeneral Fund Revenues
Prepared by Yeo & Yeo, P.C.
![Page 6: Presented by David Youngstrom, CPA Jamie Rivette, CPA Presented on January 22, 2013 Prepared by Yeo & Yeo, P.C.1 City of Saginaw Audit Results June 30,](https://reader035.fdocuments.in/reader035/viewer/2022062805/5697c0091a28abf838cc72fb/html5/thumbnails/6.jpg)
City of SaginawGeneral Fund Expenditures
June 30, 2012
Prepared by Yeo & Yeo, P.C. 6
Administration: $2,657,039
8%
Transfers: $796,984
2%
Public Safety: $22,329,515
64%
Community Services:
$1,353,7324%
General Government: $4,589,429
13%
General Services: $3,403,877
9%
![Page 7: Presented by David Youngstrom, CPA Jamie Rivette, CPA Presented on January 22, 2013 Prepared by Yeo & Yeo, P.C.1 City of Saginaw Audit Results June 30,](https://reader035.fdocuments.in/reader035/viewer/2022062805/5697c0091a28abf838cc72fb/html5/thumbnails/7.jpg)
City of SaginawGeneral Fund Expenditures
June 30, 2011
Prepared by Yeo & Yeo, P.C. 7
Administration: $2,506,866
7%
Transfers: $1,467,175
4%
Public Safety: $22,457,780
63%
Community Services:
$1,543,2474%
General Government: $4,645,916
13%
General Services: $3,096,603
9%
![Page 8: Presented by David Youngstrom, CPA Jamie Rivette, CPA Presented on January 22, 2013 Prepared by Yeo & Yeo, P.C.1 City of Saginaw Audit Results June 30,](https://reader035.fdocuments.in/reader035/viewer/2022062805/5697c0091a28abf838cc72fb/html5/thumbnails/8.jpg)
Prepared by Yeo & Yeo, P.C. 8
City of SaginawGeneral Fund Expenditures
Excludes transfers
![Page 9: Presented by David Youngstrom, CPA Jamie Rivette, CPA Presented on January 22, 2013 Prepared by Yeo & Yeo, P.C.1 City of Saginaw Audit Results June 30,](https://reader035.fdocuments.in/reader035/viewer/2022062805/5697c0091a28abf838cc72fb/html5/thumbnails/9.jpg)
City of SaginawGeneral Fund Revenues & Expenditures
Prepared by Yeo & Yeo, P.C. 9Excludes transfers
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City of SaginawUnassigned General Fund Balance
Prepared by Yeo & Yeo, P.C. 10
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City of SaginawWater Fund
Prepared by Yeo & Yeo, P.C. 11Excludes transfers
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City of SaginawSewer Fund
Prepared by Yeo & Yeo, P.C. 12Excludes transfers
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City of SaginawFuture Challenges
• Personal property taxes• State economic/political condition• Escalating fringe benefit costs• Retirement increases• Eroding state revenue sources• Fund balance• Declining tax base• No funding for capital improvement plan
Prepared by Yeo & Yeo, P.C. 13
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Questions?
Prepared by Yeo & Yeo, P.C. 14
City of SaginawJune 30, 2012Audit Results
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David YoungstromJamie Rivette
(989) 793-9830
Thank you!