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Peachtree City receives clean FY2025 audit; fund balance, reserves strengthened
Summary
External auditor Mauldin & Jenkins issued an unmodified opinion on Peachtree City’s FY2025 financial statements and single audit, reporting no audit findings. The city ended the year with an improved net position, a $35.6M general fund balance and positive enterprise fund results.
Peachtree City’s external auditors reported a clean, unmodified opinion on the city’s FY2025 financial statements and the single audit during the June 18 council meeting, telling council the documents are "fairly presented in all material respects" under generally accepted accounting principles.
David Irwin, partner at Mauldin & Jenkins, told the council the city had approximately $282 million in assets and deferred outflows and an ending net position of about $235.5 million, a year‑over‑year increase of roughly $23.3 million. The general fund ended the year with $56.9 million in revenues and $52.6 million in expenditures, producing a $35.6 million fund balance — roughly seven months of operating expenditures.
Irwin also reported roughly $96 million in cash and investments at year‑end, about $47 million in liabilities and deferred inflows (approximately $28.8 million long‑term), and that revenues increased about $13.4 million from the prior year. He noted the city received a Certificate of Achievement for Excellence in Financial Reporting from the Government Finance Officers Association for the 37th consecutive year.
The auditor said there were no disagreements with management, no uncorrected misstatements and no significant internal control deficiencies. Council members praised staff for fiscal stewardship and were reminded the audit’s information will feed into the upcoming budget process that starts the week following the meeting.
