Greenville receives unmodified FY2025 audit; available fund balance above LGC guideline

City Chief Financial Officer Jacob Joyner presented the results of Greenville's fiscal year 2025 audit at the March 9 council meeting and told elected officials auditors issued unmodified opinions on both the financial statements and the single audit covering federal grants.

Joyner said the timed delay in the single-audit process stemmed from the federal compliance supplement release and a later government shutdown, but the auditors ultimately found no reportable findings on grant compliance. He added the city also received a Government Finance Officers Association certificate of achievement for financial reporting for the 34th consecutive year.

Joyner reviewed the city's fund-balance composition: available fund balance was reported at $36,400,000, equal to 32.42% of general-fund expenditures, above the LGC guideline of 25% (the LGC floor was described as $28,100,000 for the city's budget). He said the headline change in fund balance from FY24 to FY25 was $5,500,000, most of which was encumbered obligations; the net available increase was about $1,500,000 on a roughly $120,000,000 budget.

Council members thanked staff and noted earlier modified single-audit opinions in prior years; Joyner said the city aims to avoid repeat findings and highlighted that the city spent an estimated $20'$25 million in federal funds in the year under review.

Joyner invited questions; council members expressed appreciation for the finance staff and for the clean audit. No formal council action beyond discussion was recorded; the audit presentation preceded consideration of an ordinance amendment and additional agenda items.

Note on transcript numbers: the CFO cited several figures during the presentation (encumbrance and fund-balance buckets) consistent with the packet; for precise budget entries and appropriations council relied on published financial reports and ordinances.