For the 36th year in a row, the City of Sterling Heights has secured the highest audit opinion along with top-tier financial accolades. This information comes straight from an audit presentation by Assistant Finance & Budget Director Nick Makie to the Mayor and City Council on a past Tuesday. According to the City of Sterling Heights, independent auditors provided an "unmodified” opinion—indicating the best rating there is. Also, the Government Finance Officers Association (GFOA) acknowledged Sterling Heights for its premier financial reporting and budget implementation.
This year's audit saw a change in performers, with Rehmann Robson LLC taking the reins for the first time. Despite the complexity that usually accompanies first-year audits with new firms, principals at Rehmann Robson praised the city staff for handling the transition seamlessly. Daniel Clark, Principal at Rehmann Robson, was quoted saying, as per the City of Sterling Heights, “Often changing auditors is not an easy task as there is a lot that goes into a first-year audit with a new firm. The finance team however did an incredible job navigating all the nuances of this change, and we appreciate their dedication to put in the work to once again receive an unmodified “clean” opinion on the City’s financial statements."
The recent fiscal year has been significant for Sterling Heights, as reported by Finance & Budget Director Jennifer Varney. They've launched major road reconstruction and improvement initiatives alongside enhancements to local recreational and "place making" amenities. While the city took steps to replace capital equipment, and funded long-term retirement liabilities, the city tax rate remained low. Varney told the City of Sterling Heights, “In the past fiscal year, the City was able to continue to invest in the community. This has all been accomplished while maintaining a healthy fund balance, a City tax rate that remains one of the lowest of any city in Macomb County and an excellent AA credit rating from Standard & Poor.”
