Rochester Hills cited for Excellent Financial Management

Results put City in Top 5% Statewide

The City of Rochester Hills is in solid financial condition according to a report from independent auditors of Plante Moran.

During a recent Rochester Hills City Council meeting, Plante Moran delivered the results of their completed audit work on the City’s Fiscal Year 2013 Comprehensive Annual Financial Report (CAFR). As reported by Joe Heffernan, CPA and Audit Partner with Plante Moran, “We found no material weakness or deficiencies in internal control and have issued an unmodified opinion of the City’s Financial Statements.”

“This report provides confidence to Rochester Hills’ residents that tax dollars are well managed and accounted for properly. Thanks to good planning and sound management, the City is in excellent financial position,” states Rochester Hills Mayor Bryan K. Barnett.

In 2010, Rochester Hills became the first City in Michigan to incorporate a comprehensive 3-year budget.

“The practice of multi-year budgeting, coupled with a 6 year Capital Improvement Plan and Long Term Financial Forecast is Rochester Hills’ advantage over other communities,” stated Heffernan.

The City’s financial team has earned regional and national recognition by the Government Finance Officers Association (GFOA), for producing the best financial reports in the country by earning the Certificate of Achievement for Excellence in Financial Reporting award for 24 consecutive years.

“I am proud of our entire finance team,” stated Barnett. “Having strong financial policies and a well developed strategic plan has made the difference in Rochester Hills, and has positioned us to be Southeast Michigan’s financial leader into the future.”

Established in 1984, the City of Rochester Hills is a prosperous community offering residents and businesses superior services. Voted one of the top places to live by several sources including CNN Money magazine and RelocateAmerica.com, Rochester Hills is committed to sustaining its position among the nation’s preeminent places to live, work and raise a family. Through the city’s focus on health, education and technology, the community continues to attract forward-thinking leaders and businesses.

All information contained in this press release was provide by the Rochester Hills Mayor’s office.

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