The City of Roswell is proud to report continued strength in its financial position, backed by a clean audit, growing reserves, and efficient use of taxpayer dollars. The FY2024 audit, completed on time and with no findings, reflects Roswell’s commitment to transparency, accountability, and smart fiscal management.
“Our financial results are not just numbers—they reflect the City’s responsibility to our residents,” said Mayor Kurt Wilson. “This year’s clean audit and strong financial metrics show that Roswell is not only meeting but exceeding its commitment to sound fiscal stewardship.”
Key Financial Highlights:
- Clean Audit: The City received an unmodified audit opinion—meaning there were no material weaknesses or compliance issues. The FY2024 audit (listed as “Six-Month Period Financial Report: Ended December 31, 2024“) is available on the City’s website.
- Growing Reserves: Cash and investments increased by 1.5%, and the City’s net position grew by 7.2%.
- Debt Reduction: Roswell continues to make timely payments on all obligations, further improving debt-to-asset ratios.
- Budget Outperformance:
- FY2024 General Fund revenues exceeded budget by $1.5 million, while expenditures came in $5.7 million under budget.
- For the six-month period ending December 31, 2024, revenues outpaced projections by $2.6 million, and expenditures were $3.3 million under budget.
The City is also taking meaningful steps to improve financial reporting processes. Operating departments now receive budget-to-actual reports within five days of month-end, and financial close occurs within 15 days. Updated templates provide better insight into operational drivers of budget changes.
In alignment with stakeholders, the City has officially changed its fiscal year-end from June 30 to December 31. A six-month audit for the period ending December 31, 2024, is underway, with the first full fiscal year ending December 31, 2025.
For more information and to view the full FY2024 audit, visit the City’s Financial Reports page. (Report listed as “Six-Month Period Financial Report: Ended December 31, 2024“)
