Roswell's finance team and the city's independent auditors presented a clean audit for the six-month transition period ending Dec. 31, 2024, reporting no material weaknesses and no instances of noncompliance.

The report, delivered Oct. 14 by Chief Financial Officer Bill Godshall and auditor Ian Van Wyck of CKACPAs and Advisors, covered the off‑cycle audit produced to move the city's fiscal year from June 30 to Dec. 31. Godshall said, "I'm pleased to report the city received an unmodified opinion or clean audit opinion, the highest level of assurance possible." Van Wyck described the same unmodified opinion and summarized audit procedures and key risk areas.

Why it matters: the audit preserved the city's reporting continuity during a fiscal‑year transition and sustains requirements for federal grants and bond covenants. Godshall said completing the six‑month audit avoided an unaudited gap and helped maintain Roswell's AAA bond rating, which was reaffirmed in June 2025.

Key findings and figures
- Audit period: six months ending Dec. 31, 2024 (transition from a June 30 year end).
- Opinion: unmodified ("clean") audit; no material weaknesses; no compliance findings.
- Process finding: additional year‑end adjustments were required in the transition (cash‑to‑accrual entries and accrual classifications). Godshall said the city revised its cash‑to‑accrual adjustment process to address the issue.
- Cash and investments: $295,000,000 as of 12/31/2024 (up from $270,000,000 at 6/30/2024).
- Net position: reported growth (Godshall cited a rise to $442,000,000 compared with prior periods).
- General Fund unrestricted balance: $34,500,000 at 12/31/2024; Godshall said that equates to roughly 33% of budgeted operating expenditures, above the GFOA's 25% best practice threshold.
- Six‑month operating results: total revenues of $62,000,000, expenditures (net of debt service) of $60,900,000 and debt service of about $700,000, producing a $400,000 surplus for the period.

Audit scope and attention areas
Auditors emphasized standard government audit risk areas including management override of controls, revenue recognition (notably property tax cutoff and timing), and use of restricted resources (bond proceeds, restricted funds). Van Wyck described testing that included journal entry testing, confirmation of significant transactions, and reconciliation of subsidiary systems to the general ledger. The auditors also performed procedures for federal awards under the Uniform Guidance because the city's federal spending triggered single‑audit requirements (ARPA/Coronavirus State and Local Fiscal Recovery Fund was reviewed).

Public access and next steps
Godshall said the full audited financial statements, the independent auditor's management report and related presentation materials would be posted on the city website after the meeting. No formal council vote was required or taken on the audit presentation.

Quotes
"I'm pleased to report the city received an unmodified opinion or clean audit opinion, the highest level of assurance possible," CFO Bill Godshall said.
"Our opinion was ... the clean audit opinion," auditor Ian Van Wyck said, summarizing the independent review.

Ending
Council members thanked the finance team and auditors for the work. City staff said they will post the full audit package online and continue to refine year‑end processes so future audits proceed without the transition adjustments that were required this year.