1. 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

2. 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

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

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

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

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

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

8. 8 City of Saginaw General Fund Expenditures Excludes transfers

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

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

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

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

13. 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

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

15. David Youngstrom Jamie Rivette (989) 793-9830 Thank you!