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Independent auditor gives Tucker an unmodified (clean) opinion on 2024 financial statements
Summary
Nichols, Cauley & Associates presented the 2024 audit results: the city received an unmodified opinion on its financial statements and a clean single-audit result for the major federal program tested; the city has submitted its ACFR for GFOA review.
An independent auditing firm told the council that the City of Tucker’s 2024 financial statements received an unmodified opinion and that the city’s single-audit compliance test yielded a clean opinion for the major federal program tested.
Gregory Chapman, audit partner with Nichols, Cauley & Associates, said the unmodified opinion is “accounting jargon for a clean opinion” and that the city’s annual comprehensive financial report (ACFR) had been submitted for review to the Government Finance Officers Association. “The city did receive an unmodified opinion,” Chapman said.
The auditor presented high‑level financial ratios for fiscal 2024: taxes accounted for roughly 53% of total governmental revenues (including multiple tax types), capital grants 23% and operating grants 14%. On the expenditure side, public works consumed about 41% of government‑wide expenditures and culture and recreation 29%.
Chapman also explained that the city’s enterprise fund for stormwater was newly reported in 2024, producing a significant nonoperating inflow tied to the fund reclassification. He said the city’s general fund ended the year with a net change in fund balance of just over $6 million and that most of the fund balance remains unassigned and available for city discretion.
Council offered thanks to Beverly and the finance team; the auditor did not identify any condition that would change the clean opinion shared with council.
