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Fiscal 2024 audit: Statesboro reports $49.8 million in revenues, $19.2 million increase in net position
Summary
An auditor’s presentation to the Statesboro City Council summarized fiscal year 2024 results: total government-wide revenues of $49.8 million, expenses of about $35.3 million, and a net position increase of roughly $19.2 million; the general fund shows a fund balance of about $7.5 million (~35% of annual expenditures).
The Statesboro City Council received a presentation of the city’s audited financial statements for fiscal year 2024 showing stronger net position and healthy enterprise funds, the auditor said Tuesday.
Richard Deal, the presenter, summarized the city’s key financial figures: total assets of about $223,036,000; liabilities of $56,299,000; and a government‑wide net position of $167,942,000 as of June 30, 2024. The city experienced an increase in net position of about $19,200,000 — approximately a 13% increase, the presenter said.
Total governmental activities revenues were reported at $49,800,000 and total expenses, including depreciation and interest, at $35,300,000. The general fund reported an unassigned fund balance of about $7,500,000, representing roughly 35% of annual expenditures, which staff described as a healthy reserve level.
Enterprise funds — water, sewer, gas and solid waste — also performed well, the auditor reported. Enterprise net position totaled about $79,300,000; combined enterprise fund revenues were approximately $27,200,000 and expenditures about $23,700,000, producing operating income near $3,500,000.
Council members and staff thanked the presenter for the review; no formal council action was required at the meeting. The presentation provides the basis for required annual financial reporting and helps inform budgeting and capital planning, city staff noted.
