Commissioners hear audit report

By BRYAN HELLIOS

[email protected]

Bessemer — The Gogebic County Board of Commissioners listened to a 2018 audit of the county at its meeting Wednesday evening.

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.

“The financial statements present fairly in all material respects the respective financial position of the governmental activities,” she said.

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 governments discretion,” she said. “That's your unassigned fund balance.”

Buitenhuis said the Goverment Finance Officers Association recommends having a minimum of two months as a fund balance and the County currently has about one month.

“Because you are smaller and don't have a lot of debt, it might not be as bad,” she said. “But we might recommend that getting a little higher.”

Kathy Jo Koval, equalization director for the county, provided an update and described how her department works by handing out a summary sheet to board members.

“The equalization Department works with assessors of the local units to ensure proper equalized values for real and personal property throughout our county,” the summary stated.

Koval said her department analyzes hundreds of sales through an extensive market review to establish the property tax base.

“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,” she said.

Koval advised the $500 million number may change due to petitions seeking a reduction.

“An example is Walmart,” she said. “Ironwood Township currently negotiated a reduction in 2018 taxable value by $200,000. They originally requested a $635,725 reduction. I received a petition this week for a reduction in their 2019 taxable value by $700,000. This is Walmart's fourth reduction.”

In other business, the board:

—Continued Kevin Haustein's term on the Gogebic County Forestry and Parks Commission.