Johns Creek posts clean FY2024 audit; single-audit had no management comments

City Finance Director Campbell and auditors from Malden & Jenkins presented the FY2024 annual comprehensive financial report at the March 24 Johns Creek City Council meeting, reporting an unmodified (clean) audit opinion and no management comments in the single audit portion for 2024.

Director Campbell called out the city's decision to close FY2024 with no operating surplus after directing any pre-close surplus to the fire station capital project during adoption of the FY2025 capital improvement plan. He thanked the controller Charles Lee and staff for their work during the audit process and noted the return engagement of Malden & Jenkins following a competitive RFP.

Auditors confirmed the clean opinion; Josh Carroll, the managing partner for Malden & Jenkins, attended the meeting and Campbell invited questions. Council members asked whether this was the first year with a clean report (it was not) and were told this was the first year the single audit contained no management comments, which staff and auditors described as an improvement.

Council and staff discussed budget policy changes intended to grow the unassigned fund balance and the fact the city had drawn on assigned reserves as part of planned budgets for recent years. Director Campbell said staff will reflect these items in March financials and that the city remains in a strong financial position based on the external audit.

The presentation concluded with an invitation for council members to ask additional questions and staff's offer to provide further analysis if requested.