Downtown development concept discussed at City Council session harborcountry-news.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from harborcountry-news.com Daily Mail and Mail on Sunday newspapers.
OWOSSO â Owosso has earned a âcleanâ opinion on its annual financial audit, meaning the cityâs financial statements for the fiscal year ending June 30 fairly present its true financial position.
In addition, the cityâs combined fund balance is strong and its debts are relatively low, according to CPA Neil Hammerbacher of Grand Rapids-based Gabridge & Company, which presented the audit remotely because of COVID-19. During Mondayâs virtual regular meeting, Owosso City Council members voted unanimously to accept the audit report.
âA lot of the cities weâre (auditing) have a deficit in government activities, and you have a positive,â Hammerbacher told council members, adding later: âThe state limits how much debt you can have: 10 percent of the cityâs assessed valuation. Youâre nowhere close to that.â