The report also recorded total governmental fund revenues of $6,155,402 against expenditures of $5,038,356 for the year, along with $3,583,828 in total proprietary fund operating revenues and $165,993 in net position for the Downtown Development Authority.
Historical recordLavoniaarchived · completed
Lavonia's FY2023 audit shows assets exceeded liabilities by $24.2 million
The city's independently audited financial statements for 2023 give residents an official look at Lavonia's overall financial position.
Latest
December 31, 2023: FY2023 Annual Financial Report - City of Lavonia
At a glance
What this means now
The story
An independent audit of the City of Lavonia's finances for the year ending December 31, 2023 found that the city's assets exceeded its liabilities by $24,237,443.
The audited statement of net position put total assets at $31,764,615 against total liabilities of $7,793,546, with governmental activities accounting for $8,630,482 of net position and business-type activities for $15,606,961. Total governmental fund balances stood at $4,746,436, including a general fund balance of $4,095,116 at year's end.
The report also recorded total governmental fund revenues of $6,155,402 against expenditures of $5,038,356 for the year, along with $3,583,828 in total proprietary fund operating revenues and $165,993 in net position for the Downtown Development Authority.
What happened
How this issue got here
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mentionedunknownCity of Lavonia FY2023 Annual Financial Report (independent audit)
The City of Lavonia’s assets exceeded its liabilities at December 31, 2023, by $24,237,443
+
City of Lavonia FY2023 Annual Financial Report (independent audit)
The City of Lavonia’s assets exceeded its liabilities at December 31, 2023, by $24,237,443
mentionedunknownCity of Lavonia FY2023 Annual Financial Report (audited financial statements)
CITY OF LAVONIA, GEORGIA
STATEMENT OF NET POSITION
December 31, 2023
+
City of Lavonia FY2023 Annual Financial Report (audited financial statements)
CITY OF LAVONIA, GEORGIA STATEMENT OF NET POSITION December 31, 2023
mentionedunknownFY2023 Annual Financial Report - City of Lavonia
Assets for the City of Lavonia exceeded liabilities by $24,237,443 at the close of the current
year.
+
FY2023 Annual Financial Report - City of Lavonia
Assets for the City of Lavonia exceeded liabilities by $24,237,443 at the close of the current year.
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