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Roswell audit clean; CFO reports strong balance sheet, AAA rating intact
Summary
City CFO Bill Godshall told the Roswell City Council on April 14 that independent auditors issued an unmodified opinion for the fiscal year ended June 30, 2024; the city reported stronger assets, a AAA credit rating and carryforward savings while six-month transition results remain under audit.
At the April 14 City of Roswell mayor and council meeting, Chief Financial Officer Bill Godshall reported that independent auditors issued an unmodified (clean) opinion on the city's financial statements for the fiscal year ended June 30, 2024, and said Roswell maintains a strong balance sheet and its AAA credit rating.
The unmodified audit opinion means auditors did not identify material weaknesses or significant deficiencies in internal control, Godshall told the council. He said the finalized audit has completed the State of Georgia review and is available on the city's website.
Godshall presented balance-sheet highlights and budget-to-actual results: cash and investments rose about 1.5% from 2023; total assets rose about 5.5%; net position increased about 7.2%; and bond debt declined roughly 2.5% through scheduled debt service. Godshall said the city's cash position can cover current liabilities about seven times and that net position represents about 70% of total assets. "We have $174,000,000 of cash in…
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