Auditing Mount Pleasant
The Ledger's review of Mount Pleasant's budgets, audits, debt and redevelopment money. Every story in the series, sorted by subject, with the figures the records show and links to the official documents.
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Auditing Mount Pleasant: what the city's fiscal 2025 audit says about its money
A facts-only look at Mount Pleasant's finances from its audited fiscal 2025 statements: the auditor's opinion, general fund results, debt, utility funds, the redevelopment agency and what this series will follow.
Read the explainer →Key figures
- $1.01 millionUnassigned general fund balance, June 30, 2025Auditing Mount Pleasant: what the city's fiscal 2025 audit says about its money →
- $12.7 millionTotal outstanding debt, June 30, 2025Auditing Mount Pleasant: what the city's fiscal 2025 audit says about its money →
- $82,166Redevelopment fund spending over its final FY2025 budgetMount Pleasant's fiscal 2025 audit lists two state compliance findings →
- $81,330Redevelopment agency fund balance, June 30, 2025Mount Pleasant's redevelopment fund spent $918,632 in fiscal 2025, leaving $81,330 →
- $901,502Redevelopment agency spending on site improvements, FY2025Mount Pleasant's redevelopment fund spent $918,632 in fiscal 2025, leaving $81,330 →
- $11 millionUtility (business-type) debt, June 30, 2025Two 2024 USDA loans bring Mount Pleasant's utility debt to $11 million →
Debt and bonds
Two 2024 USDA loans bring Mount Pleasant's utility debt to $11 million
Mount Pleasant's utility debt rose from $5,976,000 to $10,998,543 in fiscal 2025 after the city added two USDA loans totaling $5.42 million. The loans run to 2064.
Redevelopment money
Mount Pleasant's redevelopment fund spent $918,632 in fiscal 2025, leaving $81,330
The audit shows the city's redevelopment agency fund took in $327,521, spent $918,632 and ended fiscal 2025 with $81,330, down from $622,441. It received $225,617 of the $690,766 in intergovernmental revenue in its final budget.
Contracts and spending
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Audits and compliance
Mount Pleasant's fiscal 2025 audit lists two state compliance findings
Auditors reported that Mount Pleasant posted one set of approved minutes late and that its redevelopment agency fund spent more than its final budget in fiscal 2025. Management agreed with both findings.