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City improves financial position for ninth consecutive year

The City of Andalusia increased its net position for the ninth consecutive year, the city’s audit for the fiscal year ending in 2023 showed.

Missy Pierce, CPA, and Gail Hayes, CPA, from Rabren, Odom, Pierce and Hayes, P.C. presented the city’s audited financials for fiscal year 2023 Tuesday. The auditors reported no findings.

“This is the best report we can give,” Pierce said.

Pierce said the City of Andalusia increased its net position by $2.7 million, as compared to FY 2022, partially because a strong economy produced a 4.6 percent increase in tax revenues.

“The city continues to improve its strong financial position,” Mayor Earl Johnson said. “This is great news for the city, and it is because of the guidance of the council and the contributions of everyone who works for the city.”

Other highlights of the audit included:

• The City had a combined ending fund balance of $33.4 million, an increase of $2.3 million from the previous year.
• The City made payments of just more than $2.3M on its long-term debt.
• The City’s program expenses increased by only 6.7 percent over the previous year.

Pierce said the auditors’ report is “unmodified,” which is the best that can be given.

John Thompson, city administrator, said the audit reflects a months-long process that began in January.

“They really dig into every aspect of the city’s finances,” he said. “If the council approves a development agreement, the auditors want to sit down and have us explain it. It’s significant that this audit was completed without a finding, a citation or anything irregular going on in this $28 million annual business.”

The council officially adopted the financial statement Tuesday night.