Governmental services

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Governmental Services

Audit - Highest Level of Assurance

Our audit plan is based on a thorough understanding of the client's operations.  We use that information to assess risk and design audit procedures to effectively and efficiently perform the audit.  This approach enables us to identify opportunities to improve the government's internal control structure.

State of Michigan law requires an audit annually for local units over 4,000 in population and biennially for local units under 4,000 in population.

Stephenson, Gracik & Co provides audit services to all types of local units of governments in Michigan.  These include Counties, Townships, Cities, Villages, Public Libraries, andy legal entity created by any of the above entities, including Downtown Development Authorities, jointly governed units, and school districts.  Our audits are performed in accordance with auditing standards generally accepted in the United States of America, and where applicable, Government Auditing Standards, issued by the Comptroller General of the United States and OMB Circular A-133 Audits of States, Local Governments, and Non-Profit Organizations (the Single Audit).

Other governmental required annual reports that we can assist with include:

  • Form F-65, Annual Local Unit Fiscal Report, Michigan Department of Treasury, for all primary units of goverment
  • Deficit Elimination Plans for each fund in a deficit
  • The Municipal Finance Qualifying Statement
  • The Act 51, Annual Financial Report, Michigan Department of Treasury, for all road and street activities

Here at Stephenson, Gracik & Co., P.C., we are very proactive with our governmental clients.  Providing guidance on new Governmental Accounting Standards Board statements, changes to State of Michigan requirements, Single audit requirements and more.

We are available to our clients throughout the year for questions and provide reporting and accounting updates,  as they develop, to hlep keep our clients informed of new and upcoming changes.