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Auditors issue unmodified FY24 opinion; city’s general fund remains strong despite declines
Summary
Greenfinney, Collie, and LLP presented Easly City’s fiscal year 2024 audit, reporting an unmodified opinion and a healthy unassigned general fund balance of about $7.5 million despite a roughly $3.4 million year-over-year decline.
Ken Meadows of Greenfinney, Collie, and LLP presented Easly City’s fiscal year 2024 audit, saying the firm issued an unmodified opinion on the year’s financial statements and that the audit was not a forensic review into fraud. "We issued an unmodified opinion," Meadows stated during the work session.
Meadows told the council the general fund decreased by about $3.4 million to roughly $10.3 million at June 30, 2024. After removing nonspendable prepaids (about $1.9 million) and assigned capital (about $900,000), the city’s unassigned general fund balance stood near $7.5 million—about 33% of actual FY24 expenditures. Meadows said that level is well above Government Finance Officers Association guidance and “I would characterize it as a healthy fund balance in the general fund.”
On revenues, Meadows reported general fund receipts…
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