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Hoschton auditor gives city a clean opinion; ARPA and impact-fee amendments discussed
Summary
Rachel Miller, an auditor with Alexander Allyn and Banks, told the Hoschton City Council on April 10 that the firm had completed the city's fiscal 2024 annual audit and issued a clean opinion.
Rachel Miller, an auditor with Alexander Allyn and Banks, told the Hoschton City Council on April 10 that the firm had completed the city’s fiscal 2024 annual audit and issued a clean opinion. "Your audit this year received a clean opinion," Miller said, adding that the report is still a draft and not yet distributable to the public.
Miller summarized the most salient figures in the draft financial statements: total city assets of $55,000,000 for the year ending Dec. 31, 2024; liabilities of about $4,800,000; and roughly $11,000,000 of that $55,000,000 considered available for general expenses. She added that the government had a net surplus of “almost [a] million,” with much of the surplus coming from restricted funds for infrastructure.
The presentation described two budget amendments discussed by staff. City staff said an amendment to the ARPA (state and local fiscal recovery) fund increases the allocation for public-works projects and that federal ARPA monies were obligated and spent on public-works infrastructure; staff noted those ARPA funds were available to be obligated through the end of 2026. An amendment to the impact-fee fund was described as covering property purchases made during the year to meet the city’s commitments for park and recreational facilities.
Miller directed the council to the draft management’s discussion and analysis at the front of the financial statements for more detail and said that more detailed disclosure notes appear later in the document. She and others thanked city staff — including Tiffany and Jennifer — for their assistance during the audit.
No formal vote to accept or publish the final audit occurred at the meeting; Miller said the audit will be issued to the public after the financial statements are approved and the budget amendment(s) and resolutions are adopted. The council did approve the evening’s meeting agenda earlier in the session and later moved into executive session; those procedural votes are recorded in the meeting actions.
