The story
An independent auditor's report on the Town of Tallulah Falls' finances for the year ending June 30, 2025 found that the financial statements present fairly in all material respects. The report noted the Town had no long-term obligations as of that date, while also disclosing that the Town is involved in pending lawsuits in the normal course of its business.
The Town's Municipal Auditor presented the FY2025 financial report to the Town Council on January 8, 2026. The presentation showed total government-wide revenues exceeding $2.7 million against expenses of about $718,501, roughly $6.3 million in cash, and about $209,000 invested in capital assets. A prior period adjustment of $12,866 was required due to a new GASB standard on compensated absences, and the report cited a 32% increase in some measure since 2021, along with 29 months of General Fund liquidity and 7 months of Water Fund liquidity.
A council packet on the report stated the audit was completed successfully with no material weaknesses identified.