Presented by David Youngstrom, CPA Jamie Rivette, CPA Presented on January 22, 2013 Prepared by Yeo & Yeo, P.C.1 City of Saginaw Audit Results June 30, 2012

Audit Opinion CAN ONLY BE ISSUED BY A LICENSED CPA FIRM HIGHEST LEVEL OF ASSURANCE MANAGEMENT RESPONSIBILITY AUDITOR'S RESPONSIBILITY UNQUALIFIED OPINION PRESENT FAIRLY IN ALL MATERIAL RESPECTS FINANCIAL POSITION Prepared by Yeo & Yeo, P.C.2

City of Saginaw General Fund Revenues June 30, 2012 Prepared by Yeo & Yeo, P.C.3

City of Saginaw General Fund Revenues June 30, 2011 Prepared by Yeo & Yeo, P.C.4

Excludes transfers 5 City of Saginaw General Fund Revenues Prepared by Yeo & Yeo, P.C.

City of Saginaw General Fund Expenditures June 30, 2012 Prepared by Yeo & Yeo, P.C.6

City of Saginaw General Fund Expenditures June 30, 2011 Prepared by Yeo & Yeo, P.C.7

8 City of Saginaw General Fund Expenditures Excludes transfers

City of Saginaw General Fund Revenues & Expenditures Prepared by Yeo & Yeo, P.C.9 Excludes transfers

City of Saginaw Unassigned General Fund Balance Prepared by Yeo & Yeo, P.C.10

City of Saginaw Water Fund Prepared by Yeo & Yeo, P.C.11 Excludes transfers

City of Saginaw Sewer Fund Prepared by Yeo & Yeo, P.C.12 Excludes transfers

City of Saginaw Future Challenges Personal property taxes State economic/political condition Escalating fringe benefit costs Retirement increases Eroding state revenue sources Fund balance Declining tax base No funding for capital improvement plan Prepared by Yeo & Yeo, P.C.13

Questions? Prepared by Yeo & Yeo, P.C.14 City of Saginaw June 30, 2012 Audit Results

David Youngstrom Jamie Rivette (989) Thank you!