ISHPEMING — The Ishpeming City Council felt optimistic about the city’s financial situation after their special meeting this morning.

An audit of the 2015 fiscal year was released and presented to the council. City Manager Mark Slown described the audit as clean with only one identified issue. The city’s water fund is in a deficit, but that was not news to those at the meeting.

The excess freezing that occurred in the winter of 2014 paired with preparation for the upcoming water improvement project put the water fund over budget.

Overall, the council saw an improved balance in the general fund and deficiencies found in previous audits were eliminated.

“The good news is locally, we’re seeing a resurgence of economic activity. You have lots of new shops that are opening downtown and other industries have been expanding and creating more jobs,” said Ishpeming City Manager, Mark Slown. “UPPCO, for example, put in a dispatch and a call center in Ishpeming so that’s some new jobs created there. So there’s a lot of good news out there.”

Slown added that progress to improve the city’s fiscal situation is moving at the fastest rate possible at this time and will continue improving.