Budget Under the requirements of the Michigan Uniform Budget Act, the City must annually adopt a budget for the General operating fund and all special revenue funds.
The budget document must include details of:
proposed millage rates
revenue from taxes and other sources
estimates of fund balances.
Audit An audit of the City's financial records is performed annually by an independent public accounting firm.
Actuarial Reports Actuarial valuations are used to assess the funded status of a defined-benefit pension fund. An actuarial valuation is a type of appraisal of a pension fund's assets versus liabilities, using investment, economic, and demographic assumptions.
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