City of Stockbridge Receives Unmodified Audit Opinion for Fiscal Year 2025
The City of Stockbridge received an unmodified audit opinion on its financial statements for the fiscal year ended December 31, 2025. This is the highest level of assurance from independent auditor Mauldin & Jenkins LLC and indicates that the city's financial position was presented fairly in accordance with generally accepted accounting principles (GAAP). The City also received a clean audit opinion on its compliance with federal requirements for ARPA funds. Key highlights include an end-of-year General Fund balance of $17.9 million, representing 72% of annual expenditures and significantly above the recommended minimum reserve level. Total net position rose to $156.0 million from $141.6 million in the prior year, with unrestricted funds increasing sharply from $9.3 million to $23.7 million. The audit identified five material weaknesses related to internal controls over financial reporting—specifically concerning receivables and revenue, depreciation, capital assets, interfund activity, and amphitheater expenditures. The city accepted the auditor's recommendations and implemented corrective actions.
Topics: audits fiscal_health government_finance