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Kingsford’s annual audit shows general fund balance of $2.4 million

KINGSFORD — The city of Kingsford shows a general fund balance of $2.4 million, which would give the city about 244 days of funds if there was an emergency, according to an auditor’s report.

Auditor Scott Kenney of Crystal Falls appeared before the city council on March 22 to present an in-person report on the audit.

The council had accepted the audit, which carried an unmodified status, at a January Zoom meeting. The unmodified status is the highest rating a CPA can render on a financial statement, Kenney said.

The city’s general fund budget for the 2020-21 fiscal year that began July 1 totals $4.25 million.

Other balances include about $400,000 in the major street fund.

“Not many can set money aside in their street fund,” Kenney said. “That’s a real plus.”

The non-major street fund is at about $150,000, down from about $300,000.

Kenney said it was a compliment the city has been able to build the land sales and development fund to about $400,000.

The water fund is up about $100,000 from $1.7 million the prior year. The sewer fund is at about $650,000.

The Municipal Employees’ Retirement System of Michigan fund is underfunded by $3.733 million, based on long-range actuarial estimates.

Proposed audit adjustments were fewer than in prior years, Kenney said.

In other business, the council:

— Approved a revised bid to replace the entrance door at the public safety building to make it ADA compliant. City officials, when examining the bids, realized the bid from St. George Glass didn’t include electrical, or demolition and removal of the original door. A bid for electrical work was accepted from MJ Electric of Iron Mountain for $857. St. George Glass had submitted the lowest bid at $9,650, which now includes removal of the current door at no extra cost. This is still lower than the budgeted amount of $18,000.

— Heard the low bid submitted from Coleman Engineering of Iron Mountain for $37,600 met all specifications. Coleman will oversee the resurfacing of Westwood Avenue from Woodward Avenue to Brookfield Street and will include replacing all of the water services going into each residence as required by the state’s lead and copper rule.

— Heard no comments during a public hearing required for the application on a USDA Rural Development grant. The city will receive $26,000 towards a new squad car and must provide matching funds.

— Agreed to allow probate trials in the council chambers as needed. Judge Thomas Slagle had made the request because he was having trouble scheduling trials at the courthouse. It was approved provided the county supplies jailers.

— The city manager reported that all public works and city hall staff have had the opportunity to have the COVID-19 vaccine and City Hall is now open.

— Approved the purchase of a water service tapping machine for $3,395. In the past Kingsford had used a machine owned by the city of Iron Mountain, but it is no longer available for use.

Marguerite Lanthier can be reached at 906-774-3500, ext. 242, or mlanthier@ironmountaindailynews.com.

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