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GROSSE POINTE PARK — A new firm will be reviewing Grosse Pointe Park’s financial statements this year.
The Grosse Pointe Park City Council voted unanimously June 12 in favor of an auditing contract with Yeo & Yeo CPAs and Advisors, which has multiple offices in Michigan — one of which is in Auburn Hills. They also have 29 firm principals/presidents and more than 200 employees.
“We received three responses” from auditing firms after sending out a request for proposals, Finance Director/Treasurer Ginger Moriarty said.
Yeo & Yeo “is the firm (we are) recommending,” Moriarty said.
Established in 1923, Yeo & Yeo is ranked as one of the top 200 certified public accounting and consulting firms in the nation. Cities the firm has created award-winning audit reports for include St. Clair Shores, Rochester Hills and Farmington Hills. Yeo & Yeo currently provides auditing services for more than 130 governmental bodies.
The five-year contract approved by the council starts at $46,500 this year and will increase in price by 2% in each of the subsequent years.
Moriarty said the firm the city selected needed to be able to rotate the partners who work on the audit every five years, something a large company like Yeo & Yeo can do.
“Excellent,” Mayor Michele Hodges said of the choice for the new firm and the reasoning behind it. “Great work.”
Moriarty was hired by the city this spring, after Finance Director/Treasurer Jane Blahut retired March 31. She was the finance director for Plymouth before coming to the Park.
“I’ve been very impressed with the work Ginger Moriarty is doing,” City Councilman Max Wiener said. “This is another step in modernizing” the city’s financial processes.
