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Audit finds improvements but flags $13.6M disputed liability with Fulton County and late filings
Summary
External auditors presented the city—s fiscal 2023 audited financial statements on Oct. 6, reporting a clean opinion on the statements but listing material weaknesses: untimely budget amendments for Tax Allocation District payments, late single-audit filing, and other management-letter items. Auditors reported a $13.6 million disputed payable to
External auditors presented East Point—s fiscal 2023 audited financial statements and accompanying reports to council on Oct. 6, offering a clean audit opinion on the financial statements but identifying material weaknesses and management recommendations.
The audit team said overall net position rose year over year and the city received an unmodified ("clean") opinion on its GAAP financial statements. But auditors flagged two material weaknesses in the single-audit schedule: (1) material budget-control findings, including expenditures related to the Camp Creek Tax Allocation District (TAD) that were not formally amended into the budget (items identified included $5,521,000 for the Camp Creek TAD winding-down and $103,000 for the Corridors TAD), and (2) the city—s single-audit and federal reporting were not filed…
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