GAINESVILLE – The required annual audit of the finances and accounting practices of the City of Gainesville was presented to the city council at its work session Thursday morning.
Chris Hollifield of auditing firm Rushton of Gainesville said the events of FY 2021, including government involvement in the economy, made audits uniquely different. “We were juggling a lot with the CARES Act and ARPA Funds…just a lot of moving parts,” he said.
Hollifield says the “net position” of the city is growing. “You think about all the assets of the city; you think about cash accounts, receivables, property, plants and equipment less all the liabilities, all our debt…it’s sort of like net-worth, if you will.”
That number is $654.7-million, up from $610.0-million a year ago, an increase of $44.7-million.
Revenues for the city’s General Fund rose by $4.44-million, an increase of almost 16-percent.
The city’s unassigned portion of the General Fund balance rose to $14.4-million, according to Hollifield, “(This) is what we are free to carry over to the next year and use for the future.”
“The General Fund is in a great position financially,” Hollifield said as he closed his report. “It’s a good place to be.”
ORDER OF SUCCESSION ANNOUNCED
Georgia requires local governments to annually establish an “Emergency Interim Successor” listing. At Thursday morning’s city council work session Mayor-elect Sam Couvillon read his list of successors in the order as follows: Mayor Pro Tem Barbara Brooks, Councilman Zach Thompson, Councilwoman Juli Clay, Councilman Danny Dunagan, and Councilman George Wangemann.
The resolution will need to be formally approved when the city council meets Tuesday evening for its voting session.
CONDOLENCES TO MAYFIELD TORNADO VICTIMS
Councilman Sam Couvillon announced at Thursday’s city council work session, “We are going to be sending a letter to the mayor of Mayfield, Kentucky, as a message of support.”
“Our community suffered similar damages in 1936,” Couvillon added as he encouraged Gainesville’s community to participate in a relief effort being spearheaded by Syfan Logistics of Gainesville.
“They have already sent one tractor trailer load of supplies to Mayfield and are in the process of filling another one.” Couvillon encouraged anyone interested in donating to contact Syfan Logistics online or at (770) 287-8485.
