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Opelika auditor: city finances healthy; flags cybersecurity, payables and unusual receivables
Summary
Auditor John Bowles told the Opelika City Council work session that the city’s 2024 audit shows strong net position and low debt-service ratio but identified three areas for attention: cybersecurity, year-end payables estimation and follow-up on unusual receivables.
John Bowles, the presenter of the city audit, told the Opelika City Council work session on March 4 that the city’s 2024 financial audit was “very good” and that the city maintains strong internal controls and a healthy net position. “Overall it was a very good audit,” Bowles said, and he urged council members to review the 122‑page report for details.
Bowles summarized the government‑wide results: total assets of about $572,000,000, liabilities of about $183,000,000 and a net position of roughly $389,000,000. At the fund level he said the general fund held about $95,000,000 in assets with an $81,800,000 fund balance and an unassigned balance of just over $80,000,000. Bowles highlighted the city’s revenue mix: “45% sales tax, 18% property tax, 16% occupational tax,” which together account for most governmental revenue. He also noted that 33% of expenses were capital outlay, 21% public safety and about 4% debt service—“a pretty low number compared to other municipalities.”
Bowles identified three audit comments the council should monitor: cybersecurity, estimating year‑end payables, and follow‑up on unusual receivables. On cybersecurity he said it remains “a real threat” and urged attention to IT staff work. On payables he recommended departments estimate large invoices that may arrive late so liabilities are recorded in the proper fiscal year. On receivables he said the city handles ordinary receivables well but advised quarterly follow‑ups on atypical items such as older claims from ALDOT.
Bowles walked council members through the management’s discussion and analysis, fund statements and debt schedules and invited questions. No formal action was required; council members thanked Bowles and staff for the presentation.
Because the audit identified only advisory‑level comments and no significant deficiencies, Bowles characterized the audit result as positive while pressing the council and staff to keep working on the three attention items he listed.
