Gogebic County Board audit report.
Written by Jesse Baroka on June 13, 2019
BESSEMER – At last night’s Gogebic County Board of Commissioners meeting, commissioners listened to a 2018 audit of the county. Sue Buitenhuis, certified public accountant at Gabridge & Company, said as an auditor, they are responsible to express an opinion on the financial statements of the county. At the close of the fiscal year combined fund balances equaled $2,105,855, which Buitenhuis said is a decrease of $232,591 compared to last year. About 32% of this amount or $675,868 is available for spending at the government’s discretion,” That’s the unassigned fund balance.” Buitenhuis said the Government Finance Officers Association recommends having a minimum of two months as a fund balance and the County currently has about one month. Also last night Kathy Jo Koval, equalization director for Gogebic County, provided an update and described how her department works by handing out a summary sheet to board members. Koval said her department analyzes hundreds of sales through an extensive market review to establish the property tax base. Koval said on the county level we are asking for a summer levy of 6.68 mils which is levied against $538,083,071 as of May 10, 2019. Koval advised the $500 million number may change due to petitions seeking a reduction. In other business, the board: Continued Kevin Haustein’s term on the Gogebic County Forestry and Parks Commission.