Toccoa Receives June Financial Report

The city of Toccoa’s cash balance remains strong at the end of Fiscal Year 2016.

That’s according to Toccoa Finance Director Cathy Loudermilk.

She delivered the June financial report at Monday’s Toccoa City Commission meeting.

In it, she said the city has a cash balance as of June 30 of nearly $1.25 million.

While that is down by about $130,000 dollars from the cash balance as of June 30, 2015, she said it is still in a strong position to carry the city into Fiscal Year 2017.

She pointed out that five years ago, the city’s cash balance was under $530,000 on June 30.

Also, Loudermilk said that preliminary figures show that the city was able to add to its fund balance between all funds this past fiscal year by a little more than $300,000.

She said that is a very good number and adds the city has done well for the past fiscal year.

Loudermilk did note that many of the city’s year-end financial numbers for Fiscal Year 2016 are preliminary until the audit is completed in the coming months.