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City auditor gives Newnan a clean opinion on 2024 financial statements
Summary
External auditor Greg Chapman reported an unmodified (clean) opinion on Newnan's 2024 financial statements, highlighted a strong fund balance (about 7.7 months), noted no material weaknesses in internal control or ARPA single-audit testing, and reviewed key balance-sheet figures and trends for council.
City of Newnan officials heard the results of the 2024 financial audit during the Aug. 26 council meeting, where external auditor Greg Chapman reported an unmodified — or "clean" — opinion on the city's year-end financial statements.
Chapman told the council the audit was performed in accordance with generally accepted auditing standards and governmental auditing standards and provides reasonable, not absolute, assurance about the financial statements.
The report said total governmental assets and deferred outflows were approximately $238 million, with about $176 million in capital assets and roughly $49 million in cash and…
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