Alma, Michigan Development News
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City Commision July 14, 2026
Published: Jul 14, 2026
Elma Housing Commission Earns Second Consecutive Clean Audit Opinion; Tartan Terrace Management Agreement Under Discussion
The city manager's report highlighted that the Elma Housing Commission received an unmodified clean opinion with no findings for its fiscal year 2025 audit for the second consecutive year. Additionally, the city is discussing the management agreement for the Tartan Terrace facility, which the city owns and the Housing Commission has managed since the 1970s. The current agreement expires in August 2027, and discussions are underway to determine future arrangements. The Housing Commission pays the city and other tax entities a payment in lieu of taxes (PILOT) based on a percentage of HUD guidelines, totaling $37,240 to the city and other entities last year.
City Council Ratifies Investment of Funds in CD and Treasury Securities
The city is ratifying the investment of city funds through the purchase of one CD and three US Treasury securities. The investments range in yield from 3.05% to 4.06%.
City Authorizes Up To $40 Million in Bonds for 2026 CWSRF Project Amidst Significant State Funding
The city is proceeding with the issuance of bonds for the 2026 CWSRF project, with an aggregate principal amount not to exceed $40 million. This action follows positive news from the state of Michigan EGLE Division, which will fund the project up to $40 million. The funding includes $31,280,000 in traditional loans and an additional $2,535,000 in forgivable loans under the BIL principal forgiveness portion. The bonds will be issued on equal priority with existing series of bonds and pledged to the net revenues of the system for repayment. The city manager is authorized to take necessary actions to complete the sale to the MFA. This funding is crucial for addressing aging infrastructure, with potential for interest savings due to low interest rates (2%) and the forgivable loan portion.
City Approves Annual Auditing Services Contract with Yuan Yo CPAs
The City Council approved a resolution authorizing the execution of an agreement with Yuan Yo CPAs and Business Consultants for the annual year-end financial statement audit and required single audit. The total contract fee was not explicitly stated in the transcript for the general city audit, but a fee increase of approximately $3,400 from the previous year was mentioned due to additional work related to closing out drinking water SRF projects. The council also approved a separate but related agreement for Elma Transit Center's annual audit with the same firm, which is included within the previously mentioned $39,000 total contract fee.
Police Department Annual Systems Maintenance Approved for $17,641.38
The city is approving the annual systems maintenance for the police department from Core Technology Corporation in the amount of $17,641.38. This maintenance covers software for reports from desktops, mobiles, and cars, evidence management, and lean usage, ensuring compliance and confidentiality.
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The Alma News archive
City Commission June 30, 2026
City Commission June 23, 2026
City Commission June 9, 2026
City Commission May 26, 2026
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City Commission April 28, 2026
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