Toccoa Gets Preliminary Year End Financial Numbers
Preliminary year-end numbers show indications of a positive bottom line for the city of Toccoa financially in Fiscal Year 2014.
Toccoa Finance Director Cathy Loudermilk presented the monthly financial report for the city as of June 30 to city commissioners at their meeting on Monday.
June 30 marked the end of Fiscal Year 2014.
She said the preliminary figures show that the city’s operating accounts had a net income of just over $1.21 million in Fiscal Year 2014, while for all funds, the city’s net income was just over $1.66 million.
Loudermilk cautioned, however, that the numbers are not final and will not be until the auditors come in and do their work later this year.
“These numbers will change,” said Loudermilk.
Some of the numbers presented Monday were final ones.
Loudermilk reported that the city had over $1.76 million of operating cash as of June 30, which is more than a million dollars more in operating cash than the city had as of June 30, 2013.
Much of that change was due to an increase of over $1 million in operating cash in the natural gas in 2014 over 2013.
Also, Toccoa reported that it has nearly $2.3 million in its Commission Reserve Account as of June 30, which is about $200,000 more than was in the CRA on June 30, 2013.