Walnut Grove receives clean audit for year ended June 30, 2024

An independent audit of Walnut Grove's finances for the year ended June 30, 2024, returned an unmodified (clean) opinion, the city's auditor told the council on Jan. 21.

Kirk Arson, a CPA with McMahon and Little Brooks, said the firm issued its report on Nov. 20, 2024, and found the city's financial statements "present fairly in all material respects." He said the audit identified no material weaknesses in internal control and no disagreements with city representatives during the engagement.

Arson summarized key figures: the general fund held about $1.37 million at year-end, including roughly $1.3 million in cash; the ARPA fund had slightly more than $500,000 in assets but no fund balance because amounts were recorded as unearned revenue; and the 2019 SPLOST fund carried about $975,000 restricted for capital outlay. The city's water/wastewater (business-type) activities showed operating revenues just under $190,000 and net increases in net position for the year.

The auditor also reviewed capital assets and long-term debt: governmental activities recorded depreciation and no current-year additions; business-type activities had small capital additions and about $541,000 of related long-term debt outstanding. Arson thanked Mayor Moncrief and Councilmember Davis for their assistance during the audit.

The council and staff acknowledged the report and thanked the auditors for completing the engagement on schedule; no formal vote was required or recorded on the audit report during the meeting.

The audit report and financial statements are part of the city's public records and were available in the meeting packet posted online.