The City of Gray received a clean audit report for 2023 at a recent meeting specifically called to hear the presentation.
The report was given by David McCoy with the firm of McNair McLemore Middlebrooks and Company CPAs. The June 13 meeting was called to order by Gray’s Finance Committee Chairman Councilman Terrell Fulford.
Councilman Terry Favors was the only other council member in attendance. The meeting was also attended by City Superintendent Cheyenne Morgan, City Clerk Cindy Yancey and Assistant Clerk Christina Morgan.
McCoy began the presentation with a statement that everything in the report was compiled from information received from the City of Gray. He said the city received an unmodified opinion. which is the highest level of assurance.
“The city does a good job keeping books posted as they should be,” the speaker said.
McCoy noted the government activities page showed the city with total assets of $8,933,540. Year end balances of the city’s general fund were $4,624,435 and total fund balance of $4,254,767.
“That’s a strong fund balance,” he pointed out.
The speaker said the fund balance had a positive increase over the previous year of $452,000.
The summary page of the audit listed the unmodified report and no findings for any of the city’s financial statements or federal awards.
