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Mauldin audit shows solid finances; auditors flag new GASB requirement
Summary
External auditors from Scott & Company told the Mauldin City Council the fiscal-year 2025 financial statements are fairly presented, with about $121 million in assets and roughly $11 million unassigned in the general fund; the report reflects implementation of a new GASB requirement for sick-leave accrual.
Mauldin — Auditors from Scott & Company presented a positive report to Mauldin City Council on Nov. 17, saying the city’s financial statements for the fiscal year ended June 30, 2025, are presented fairly in conformity with generally accepted accounting principles.
Auditor Michael Slapnick highlighted key figures: roughly $121,000,000 in total assets and deferred outflows and approximately $41,000,000 in total liabilities and deferred inflows, leaving a net position of about $80,000,000. The city’s general fund reported total assets near $31,000,000, liabilities around $17,000,000 and a fund balance of $14,000,000 — with about $11,000,000 unassigned.
Amanda (Scott & Company) summarized fund-level results and noted a net increase in fund balance of about $1,500,000 for the year and ongoing enterprise-fund health. Auditors also noted the implementation of a new Governmental Accounting Standards Board pronouncement requiring inclusion of sick leave in accrued compensated absences.
Mayor Merritt and councilmembers thanked the finance staff. The draft audit will be finalized and published after council review and any final approvals.
Sources: Scott & Company presentation to Mauldin City Council, Nov. 17, 2025.
