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Johnson City receives clean audit; finance director reports steady collections and event losses at Freedom Hall
Summary
An independent audit gave Johnson City a clean opinion for fiscal year 2024; the city reported a $22 million net position increase and said some enterprise venues are recovering after canceled events.
Tara Finner, an audit partner with Blackburn, Childers & Stegall, told the Johnson City City Commission on March 6 that the firm issued a clean (unmodified) opinion on the city’s fiscal year 2024 financial statements and its Schedule of Expenditures of Federal Awards.
The audit partner said the city’s total net position at June 30, 2024, was $500,400,000, of which $393,000,000 was invested in capital assets. Finner reported a net position increase of $22,000,000 for the year and said the city paid down $18,800,000 in debt, including bonds, notes, capital leases and subscription contracts. She said the firm tested major federal programs — including the federal transit cluster, Coronavirus State and Local Fiscal…
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