MANISTIQUE - The Manistique City Council accepted the audit report for the city's 2012 fiscal year, after hearing a summary of the report during a recent city council meeting.
According to Manistique City Manager Sheila Aldrich, the city's 2012 audit was completed by Anderson Tackman & Company. She noted the city's audit went well and yielded positive results.
"We added $59,252 to our general fund balance, and so the total fund balance for the city is $546,022, with $496,893 of it being unassigned or unrestricted," she noted. "What that means is that our revenues exceeded our expenditures by that amount."
The city also added money to other funds, including major streets, which increased by $20,153 for a total fund balance of $200,902. The local streets fund also added $8,750, for a total fund balance of $91,099.
The ambulance fund increased by $26,773, bringing their total net assets to $632,970.
Aldrich said another thing to note from the audit was Manistique Downtown Development Authority used some of its fund balance from 2011 while they wait for their tax payment to come in from Manistique Papers, Inc.
She also said though the city's water fund made enough to cover depreciation, the waste water fund did not.
"We are now finishing up this big utility project and we did OK," said Aldrich. "Our goal is to make enough to cover our depreciation and we were a little bit shy in that respect, but we discussed that with Rural Development."
Aldrich credited city employees for working together to make things work for the city of Manistique.