Toccoa Gets Clean FY2015 Audit

The city of Toccoa receives good news on its financial audit for Fiscal Year 2015.

Joel Black with the auditing firm of Mauldin and Jenkins presented the Fiscal Year 2015 audit to commissioners first at a work session on Monday and then later at the city commission’s regular meeting.

He said the city had a clean audit and overall strong finances.

According to Black, Toccoa has a strong governmental fund balance as of the end of Fiscal Year 2015.

“We talked about your fund balance ratio being at 28 percent, which is three months,” said Black, who recommends that a government have two to three months. “You are at the high end of that.”

Black did note that a couple of audit adjustments were made, though adding the number is decreasing each year.

Also, Black said the auditor did issue a finding regarding segregation of duties, though auditors have noted that is a finding that many other governments, especially small governments, receive on a yearly basis because of staff size limitations.

Overall, Toccoa Vice-Mayor Jeanette Jamieson said that the financial staff has done an excellent job.

“I think it goes without saying that all of the departments of the city of Toccoa do an excellent job,” said Jamieson. “Being in my profession, I better appreciate the financial staff and the job they do because their audit is not like doing a single business audit, it is like doing an audit of several businesses.”

Black agreed, saying that the city’s staff are very easy to work with on the audit each year.