Photo courtesy of the city of Port HuronPlante Moran auditors Dana Delboy and David Helisek.
Local News

Port Huron receives an ‘unmodified opinion’ on its annual audit

By Jim Bloch

The auditors at Plante Moran delivered an ‘unmodified opinion’ on the city of Port Huron’s financial statements for the fiscal year that ended June 30, 2024.

“… that’s the highest level of assurance we can give to a set of financial statements,” said David Helisek, the lead auditor, told the Port Huron City Council at its regular meeting Jan. 13.

Property and income taxes accounted for about 60 percent of total revenues for the city in support of its general fund, which stood at $34,129,000, down from fiscal year 2023, when revenues were $39,517,000, largely because of the number of federal grants the city landed in 2023.

Total real property in the city stood at $735.7 million, up from $698 million last year; $522 million of that was residential, up from $474 million last year; commercial property was $168.9 million, down from $179 million in 2023; industrial property was $44.6 million, up from $44.4 last year.

The top five taxpayers in the city were DTE Energy, with a property valuation of $21.9 million or 2.69 percent of the total; Lake Huron Medical Center, $20.2 million or 2.49 percent; SEMCO Energy Gas Company, $15.8 million or 1.95 percent; Sperry’s/City Flats, $10.6 million or 1.31 percent; and Landmark/Monroe/Wrigley, $9.2 million or1.03 percent.

General fund expenditures in 2024 were $40,227,000 compared to $40,080 in 2023. Public safety consumed the largest proportion of expenditures at 48 percent or $19,410,000. Public works accounted for $1,558,000, general government $4,781,000 and recreation, parks and culture $5,088,000.

“Across the board, these were fairly consistent with last year,” said auditor Dana Delboy. “There was an overall increase of less than a half-percent… Expenditures did exceed revenues for the year.”

“Can you speak briefly to our fund balance,” said Mayor Anita Ashford. “Are we good there?”

“You’re doing okay there,” said Helisek, explaining that the pool of money is a kind of rainy-day fund. “It’s there to prepare for unforeseen circumstances.”

The city’s fund balance stood at $6,170,330 or 15 percent of expenditures.

City Manager James Freed said the city’s goal for its fund balance is 25 percent of expenditures, as recommended by Standard & Poor’s best practices.

Net position – a combination of the governmental and business-type activities of the city — was $139 million in 2023 and $152 million in 2024.

Jim Bloch is a freelance writer based in St. Clair, MI. Contact him at bloch.jim@gmail.com.

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