City of South Fulton reports $14.5 million earned in interest, revenue growth to about $260 million

City Manager Sharon Soubadan and Mayor Kobe told attendees that the City of South Fulton has moved city funds into interest-bearing investments and reported substantial revenue growth since incorporation.

“When I arrived in 2023, the city had no interest bearing investments. Our funds are now invested aligning with state guidelines, and we have earned $14,500,000 in interest to date,” City Manager Sharon Soubadan said.

Mayor Kobe said the city’s annual revenues have grown from $26,000,000 in 2017 to nearly $260,000,000 in 2025 and that 55% of recent revenue increases — $165,986,000 — were recorded in the past three years. He also said the city cut its millage rate in 2023 to provide relief to property owners, and that property taxes now account for about one-quarter of the city’s budget, down from more than 40% historically.

Why it matters: changes in revenue mix and newly invested funds affect the city’s capacity to pay for capital projects, operations and programs without borrowing. Officials said the city accomplished land purchases and capital work without incurring debt.

Details and constraints: Soubadan said investments follow state guidelines; no details were provided at the event about the investment instruments, counterparties, or specific reserve policies. Mayor Kobe attributed increased revenues to multiple factors but did not provide a line-item breakdown at the event; he pointed listeners to the city manager’s annual state of the administration report online for more information.

Ending: Officials asked residents to consult the city’s published reports for additional fiscal detail and said transparency efforts, including new financial software integrations, are underway.