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City auditor reports clean opinion, $20.2 million unassigned fund balance
Summary
An auditor presented the 2024 Annual Comprehensive Financial Report to the Texarkana City Council, saying the city received clean (unmodified) opinions and ended the year with an unassigned general fund balance of about $20.2 million; pension funding and upcoming Governmental Accounting Standards Board (GASB) changes were discussed.
David Coleman, presenter of the annual comprehensive financial report, told the Texarkana City Council on Monday that the city’s 2024 audit is complete and received clean opinions.
"We have completed our audit," Coleman said, and noted an "ending unassigned fund balance" of $20,200,000, roughly $3 million higher than the prior year. He said operating revenues for Texarkana Water Utilities increased about $1.5 million year over year, and net position for the utility improved compared with the…
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