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Auditors give Mauldin a clean opinion; city reports strengthened net position
Summary
Auditors told Mauldin City Council the city's financial statements for year ending June 30, 2025, received an unmodified opinion; staff highlighted approximately $121 million in assets and a net position near $80 million with a general fund unassigned balance of roughly $11 million.
Mauldin — Auditors from Scott & Company told the City Council on Nov. 17 that Mauldin’s financial statements for the fiscal year ended June 30, 2025, are presented fairly in all material respects and received an unmodified (clean) opinion.
Michael Slapnick, lead auditor, praised the city’s financial reporting and noted the city had received a Certificate of Achievement for Excellence in Financial Reporting for FY24 and anticipates similar recognition for FY25. He urged council and the public to read the management’s discussion and analysis for layman’s explanations of the year’s results.
City staff presented the headline numbers: combined government‑wide assets and deferred outflows of approximately $121,000,000; liabilities and deferred inflows of about $41,000,000; and an approximate net position of $80,000,000. The general fund closed the year with roughly $31,000,000 in total assets, liabilities and deferred inflows of ~$17,000,000, and a fund balance near $14,000,000 (about $11,000,000 unassigned). The city reported a year‑to‑year increase in net position of about $1,500,000.
Staff noted a new GASB pronouncement implemented in FY25 that required inclusion of sick‑leave accruals in compensated absences. A new debt issuance in FY25 funded police vehicles, sanitation trucks and other equipment; city officials also noted payoff reductions of approximately $1,200,000 during the year.
What it means: The auditors’ unmodified opinion is the highest level of assurance on the financial statements. City leaders said the results reflect robust reporting practices and effective finance‑staff work; council had no questions during the brief presentation.
Next steps: The final audited financial statements will be published after formal approval; staff will continue monitoring required grant closeout and post‑reimbursement grant monitoring processes where applicable.
