City of Berkley Annual Comprehensive Financial Report - Year Ended June 30, 2025 - Independent Auditors Report and Financial Statements

Oct 12, 2026

Uploaded by pop out

Annual Comprehensive Financial Report for the City of Berkley, Michigan covering the fiscal year ended June 30, 2025. The report includes a letter of transmittal, a list of city officials, and an overview of fund and organizational structures, followed by the Independent Auditor’s Report and Management’s Discussion and Analysis. It presents government-wide government activities and net position statements, fund-level financial statements for governmental, proprietary, and fiduciary funds, and detailed notes plus required and other supplementary schedules and disclosures.

LanguageEnglish

CategoryGeneral

FormatPDF

Pages122

Reading Time43 min

AccessFree to download

Introductory Section

List of City Officials

Letter of Transmittal

Financial Section

Independent Auditor’s Report

Management’s Discussion and Analysis

Basic Financial Statements

Government Wide Financial Statements

Fund Financial Statements

Notes to Financial Statements

Required Supplementary Information

Pension Investment Returns and Related Schedules

Budgetary Comparison Schedule – General Fund

Notes to Required Supplementary Information

Other Supplementary Information

Nonmajor Governmental Funds

Fiduciary Funds – Pension and Other Postemployment Benefits Funds

Annual Comprehensive Financial Report City of Berkley, Michigan Year Ended June 30, 2025 with Report of Independent Auditors Prepared by the City of Berkley’s Finance Department ANNUAL COMPREHENSIVE FINANCIAL REPORT City of Berkley, Michigan For the Fiscal Year Ended June 30, 2025 as prepared by the Finance Department City Council Bridget Dean – Mayor Ross Gavin, Mayor Pro-Tem Steven W. Baker Gregory Patterson Dennis S. Hennen Clarence Black Jessica Vilani City Manager Crystal VanVleck Finance Director/Treasurer Carl Johnson City of Berkley, Michigan Annual Comprehensive Financial Report Year Ended June 30, 2025 Contents Introductory Section List of City Officials .................................................................................................................... i Letter of Transmittal..................................................................................................................... ii [Fund Organization Chart .............................................................................................................. vi](Fund Organization Chart .............................................................................................................. vi) [Organizational Chart .........................................................................................................](Organizational Chart .........................................................................................................)........... vii Financial Section Independent Auditor’s Report ...................................................................................................... 1 Management’s Discussion and Analysis ...................................................................................... 4 Basic Financial Statements Government Wide Financial Statements Statement of Net Position............................................................................................................. 12 Statement of Activities ................................................................................................................. 13 Fund Financial Statements Governmental Funds Balance Sheet ............................................................................................................................... 14 Reconciliation of the Balance Sheet to the Statement of Net Position ........................................ 15 Statement of Revenues, Expenditures, and Changes in Fund Balances....................................... 16 Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balances to the Statement of Activities ................................................................................................... 17 Proprietary Funds Statement of Net Position............................................................................................................. 18 Statement of Revenues, Expenses, and Changes in Net Position ................................................ 19 Statement of Cash Flows .............................................................................................................. 20 Fiduciary Funds Statement of Fiduciary Net Position ............................................................................................ 21 Statement of Changes in Fiduciary Net Position ......................................................................... 22 Notes to Financial Statements ...................................................................................................... 23 Required Supplementary Information Schedule of Pension Investment Returns – Public Safety Pension Plan...................................... 61 Schedule of Changes in Net Pension Liability and Related Ratios – Public Safety Pension Plan ...................................................................................................................

FAQs

What period does the City of Berkley Annual Comprehensive Financial Report cover?

The report covers the fiscal year ended June 30, 2025, with results presented throughout the financial and supplementary sections.

What audit and management content is included?

The report includes an Independent Auditor’s Report and Management’s Discussion and Analysis to frame the financial results.

Which financial statement areas are presented in the report?

It presents government-wide statements and fund financial statements, including governmental funds, proprietary funds, and fiduciary funds, followed by detailed notes and supplementary schedules.

Oct 12, 2026

Uploaded by pop out