The city's Water and Sewer/Solid Waste operations reported total net position of $12,292,358 and total operating revenues of $3,248,203 for the year, according to the same audited report.
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Lavonia's FY2021 audit shows assets exceeding liabilities by $19.6 million
The city's independently audited financial statements for the year ended December 31, 2021 lay out Lavonia's overall financial position, including its general fund and water/sewer system.
Latest
December 31, 2021: City of Lavonia FY2021 Annual Financial Report (net position and operations)
At a glance
What this means now
The story
An independent audit of the City of Lavonia's finances for the year ended December 31, 2021 found the city's assets exceeded its liabilities by $19,599,488, reported as net position.
The audited statements put net position of the city's governmental activities at $7,307,130 and total governmental fund balances at $3,166,423. The General Fund recorded actual revenues of $2,878,720 against actual expenditures of $4,370,348 for the year, while total expenditures across governmental funds came to $4,898,552. The Hotel/Motel Tax fund carried a balance of $75,094.
The city's Water and Sewer/Solid Waste operations reported total net position of $12,292,358 and total operating revenues of $3,248,203 for the year, according to the same audited report.
What happened
How this issue got here
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mentionedunknownCity of Lavonia FY2021 Annual Financial Report (independent audit)
The City of Lavonia’s assets exceeded its liabilities at December 31, 2021, by $19,599,488
(reported as net position).
+
City of Lavonia FY2021 Annual Financial Report (independent audit)
The City of Lavonia’s assets exceeded its liabilities at December 31, 2021, by $19,599,488 (reported as net position).
mentionedunknownCity of Lavonia FY2021 Annual Financial Report (audited financial statements)
Net position of governmental activities $ 7,307,130
+
City of Lavonia FY2021 Annual Financial Report (audited financial statements)
Net position of governmental activities $ 7,307,130
mentionedunknownCity of Lavonia FY2021 Annual Financial Report (net position and operations)
Assets for the City of Lavonia exceeded liabilities by $19,599,488 at the close of the current
+
City of Lavonia FY2021 Annual Financial Report (net position and operations)
Assets for the City of Lavonia exceeded liabilities by $19,599,488 at the close of the current
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