At the fund level, the General Fund's actual revenues of $3,280,053 came in below its actual expenditures of $3,509,340 for the year. The Hotel/Motel Tax Fund took in $650,332 in actual revenues, and total governmental fund balances reached $3,478,542 as of December 31, 2022.
Historical recordLavoniaarchived · completed
Lavonia's FY2022 audit report shows assets exceeded liabilities by $20.2 million
The city's annual audit for the year ended December 31, 2022, lays out how much Lavonia took in, spent and holds in reserve.
At a glance
What this means now
The story
The City of Lavonia's FY2022 Annual Financial Report was presented to the City Council on June 19, 2023. It found that the city's assets exceeded its liabilities by $20,201,813 at the close of the year ended December 31, 2022.
The report put total revenues at $8,634,704 against total expenses of $8,032,379 for the year. The city's combined governmental fund balance stood at $3,478,542, including an unassigned General Fund balance of $2,533,941.
At the fund level, the General Fund's actual revenues of $3,280,053 came in below its actual expenditures of $3,509,340 for the year. The Hotel/Motel Tax Fund took in $650,332 in actual revenues, and total governmental fund balances reached $3,478,542 as of December 31, 2022.
What happened
How this issue got here
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mentionedunknownFY2022 Annual Financial Report for the City of Lavonia
The City of Lavonia’s assets exceeded its liabilities at December 31, 2022, by $20,201,813
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FY2022 Annual Financial Report for the City of Lavonia
The City of Lavonia’s assets exceeded its liabilities at December 31, 2022, by $20,201,813
mentionedunknownCity of Lavonia FY2022 Annual Financial Report
Assets for the City of Lavonia exceeded liabilities by $20,201,813 at the close of the current
+
City of Lavonia FY2022 Annual Financial Report
Assets for the City of Lavonia exceeded liabilities by $20,201,813 at the close of the current
mentionedunknownCity of Lavonia FY2022 Annual Financial Report (government-wide and fund financial statements, year ended December 31, 2022)
CITY OF LAVONIA, GEORGIA
GENERAL FUND
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
BUDGET (GAAP) AND ACTUAL
For the year ended December 31, 2022
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City of Lavonia FY2022 Annual Financial Report (government-wide and fund financial statements, year ended December 31, 2022)
CITY OF LAVONIA, GEORGIA GENERAL FUND STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES BUDGET (GAAP) AND ACTUAL For the year ended December 31, 2022
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