PTC finances get green light from auditor

Peachtree City’s latest financial audit yielded a fully clean opinion from the accounting firm of Moore and Cubbedge.

Firm partner Tammy Galvis presented a breakdown of the city’s audit to the city council at its meeting Thursday night.

Among other data, Galvis showed a graph how the city’s cash reserve fund has dipped from $10.6 million in 2007 to $10.1 million in 2008 and then $9.5 million in 2009.

“We know 2009 was a challenging year,” Galvis said.

While revenues have been decreasing due to lower sales tax revenues and other issues, the important thing is that the city’s accounting staff is experienced and knowledgeable to provide good up-to-date information that allows leaders to make good decisions as the year progresses.

That way the city can “make adjustments accordingly on a timely basis,” Galvis said.

Councilman said the audit was proof how the staff “from top to bottom takes a very serious approach to the budget.”

jpopeye
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Misleading article?

The headline trumpets "green light" while the article describes a 10% decrease in the city cash reserve fund over the last two years. There is no mention of a plan to resolve the problem. The most important audit finding appears to be "the city’s accounting staff is experienced and knowledgeable".

A 10% decrease is a significant problem.