ReportsComprehensive Annual Financial Report (CAFR)
Pursuant to Michigan PA 2 of 1968, a local unit having a population of 4,000 or more shall obtain an annual audit of its financial records, accounts and procedures. The City of Big Rapids prepares a CAFR for each fiscal year ended June 30th. State law requires that local governments publish a complete set of financial statements presented in conformity with generally accepted accounting principles (GAAP) and audited in accordance with generally accepted auditing standards within six months of the close of each fiscal year. CAFRs covering additional years can be found on the Michigan Department of Treasury web site.
Summary Annual Report
In accordance with Michigan PA 530 of 2016, the Public Employee Retirement System Investment Act was amended to require summary annual reports of retirement systems to be filed with the Michigan Department of Treasury no later than 30 days following the publication of the system's Annual Actuarial Valuation (AAV).
Retirement System Annual Report
In accordance with Michigan PA 202 of 2017, pension and retiree health care reports for retirement systems shall be electronically filed with the Michigan Department of Treasury no later than six months after the end of the local unit of government's fiscal year.