CADILLAC — At Monday night’s city council meeting, a presentation of an audit of Cadillac’s budget for fiscal year 2025 was given by Joe Verlin of Gabridge & Company.
Verlin stated that after his company looked over the 225-page audit report. He said they had written a clean opinion on the financial statements provided.
“The financial statements present fairly the financial position of the city as of June 30th, 2025”. He said that was the gold standard and they could not provide a higher level of assurance,” Verlin said.
Verlin pointed out some highlights of the audit. He said Cadillac’s revenues exceeded expenses by $1.4 or $1.5 million. He added that this was in addition to the $300,000 increase that the city experienced in 2024. He said that is two years of back-to-back growth.
Other takeaways he mentioned that there was an overall decrease in fund balance of $427,000, but he said the general fund, which is the city’s most important fund, increased by 2% from the year before.
He also said there was an absence of any findings and said that the 2025 budget was in a stable, healthy position.