Lavonia Receives Clean Opinion on 2013 Audit

The City of Lavonia is doing a good job of keeping their books in order.

That’s according to CPA Chris Hollifield, who spoke to the City Council and Mayor at their regular meeing earlier this week.   Hollifield gave the council a short review of their financial audit for 2013, in which he gave the City a clean opinion.  Hollifield went over each fund and also gave the council a general statement of funds.

You’ve got $13.2 million dollars t hat’s tied up in your capital assets,” he said. “Then we have restricted net position, $640, 761 and then you have your unrestricted net position at $3.9 million.”

Hollifield said all those figures combined came to a total net position of $17.8 million dollars.   Under Revenue over expenses, Hollifield said the city was breaking even.   Under the General Fund, Lavonia has actually decreased its expenses but its revenues are up.

“Our total revenue in the General Fund decreased by a little over $30,000 during the year,” he said. “Our property taxes actually increased a little over $30,000. We took our cemetery and took it out of the General Fund and put it in a separate fund.  And then we had a contribution in 2012 of $56,000 that we don’t have in 2013. So those are the most significant changes in the General Fund.” 

Overall, Hollifield said the City of Lavonia is doing well with a fund balance of just over $13-million dollars.  Hollifield said over the past five years revenues and expenditures have been balanced for the most part.