Title
Resolution To Accept the DDA Audited Financial Statements for Fiscal Year 2025
Memorandum
Dan Merritt, CPA, Signing Principal for Rehmann will be present to present the DDA’s FY25 Audit Report and answer any questions the Board may have.
After receiving Rehmann’s report, the Board will be asked to consider the Resolution to Accept the FY25 Audited Financial Statements.
Included in the Board Packet for your review today:
• The FY25 Audited Financial Statements
• The Independent Auditor’s Communication with Those Charged with Governance
• The Resolution to Accept the FY24 Audited Financial Statements
Body
Whereas, The Uniform Budgeting and Accounting Act, Public Act 2 of 1968 requires that the financial records of local units be audited annually;
Whereas, The City of Ann Arbor contracted with the auditing firm of Rehmann to perform an independent audit of the City’s financial records for the fiscal year ending June 30, 2025, and that contract included a provision for the audit of the DDA’s financial records;
Whereas, Rehmann performed the audit according to Government Auditing Standards;
Whereas, Rehmann gave the DDA’s financial statements an unmodified opinion;
Whereas, Rehmann assessed management’s accounting estimates and deemed them reasonable;
Whereas, Rehmann reported that no difficulties were encountered during the audit;
Whereas, Rehmann noted the presence of no material weaknesses, significant deficiencies, or other matters of concern;
RESOLVED, The Ann Arbor Downtown Development Authority Board accepts the Independent Auditor’s Report and the Audited Financial Statements presented by Rehman CPAs for the Fiscal Year ending June 30, 2025.