Budget and Audit

The BIZ fiscal year runs from July 1 of each calendar year through June 30 of the next calendar year. The BIZ follows the Uniform Budgeting and Accounting Act, 1968 PA 2, MCL 141.421 to 141.440a.

Budget Adoption Timeline:

On or About
Budget Process Item
3rd quarter fiscal year
January BIZ Board Meeting
Recommended budget is presented to BIZ Board of Directors
4th quarter fiscal year
June BIZ Board Meeting
Public hearing on budget. Any member of the public may comment.
4th quarter fiscal year
June BIZ Board Meeting
Board of Directors considers adoption of the proposed budget.

Audit

The BIZ is audited annually following government standards issued by the United States General Accounting Office, the federal Single Audit Act, and the Office of Management and Budget’s (OMB) Circular A – 133.