Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Municipal Finance topic
No spam. Unsubscribe anytime.
Villa Rica receives 'clean' FY25 financial audit; general fund balance reported strong
Summary
Auditor Nicholls Collie presented the 2025 financial audit and issued an unmodified (clean) opinion, reported no internal-control weaknesses, and highlighted a $13.6 million year-end general fund balance and $4.2 million in SPLOST expenditures in 2025.
Villa Rica — The city received a clean audit for fiscal year 2025, the council heard on April 14.
Greg Chapman of audit firm Nicholls Collie told the council his team issued an unmodified opinion on the city's financial statements and identified no internal-control weaknesses or significant deficiencies. Chapman explained a GASB accounting change (compensated-absence accounting under GASB 101) required restating prior-year balances but found no management disagreements or uncorrected misstatements.
Interim Finance Director Amanda Long said the full financials and the annual comprehensive financial report are on the city website. Chapman emphasized key financial highlights: a healthy general fund balance of about $13.6 million against roughly $20 million in expenditures for the year, and $4.2 million in SPLOST (sales-tax) expenditures in 2025 following approximately $3.5 million in 2024.
Council members thanked staff for the thorough reporting; Chapman said the city also received a GFOA certificate of achievement for its 2024 reporting. No council action was required; the audit was accepted for the record.
