(BRONSON) - The City of Bronson is doing well financially.
Monday night the Bronson City Council was presented with their annual audit presentation from Gabridge Company.
Ian, a representative from Gabridge started by saying Bronson is receiving a clean or unmodified opinion which is the highest opinion that can be given.
Ian then said that Bronson's assets exceeded their liabilities by $10.3 million at the end of the fiscal year. Between $3.5 million and $3.6 million is unrestricted which means the funds can be used for anything.
Ian explained that Bronson's revenues were $3.7 million and expenses were $2.8 million. That allowed the City to increase their net position by $875 thousand for the fiscal year, and Bronson added to their equity. (LISTEN ABOVE).
The City Council approved the presentation.