Garden City, Georgia Development News

Garden City Council Reviews FY2025 Audit, Discusses Property Tax Adjustments

The City Council reviewed the Fiscal Year 2025 audit report presented by Kellen Shuford from Mauldin & Jenkins. The audit revealed a positive financial standing with total assets of $105.5 million and total liabilities of $36.9 million, resulting in an ending net position of $68.6 million. The general fund showed a healthy balance of $17.1 million, equivalent to 15.6 months of operational expenses. A special item related to a fire fee settlement contributed to a net decrease in the general fund balance for the year. The audit issued an unmodified or 'clean' opinion, indicating that the financial statements are fairly presented. A single audit for federal expenditures, specifically ARPA funds, was also conducted with an unmodified opinion. Concerns were raised by a resident regarding a proposed increase in property taxes, which the finance director explained was necessary due to the loss of fire protection user fees and the subsequent transfer of the fire department's funding to the general fund. The millage rate for fiscal year 2026 was discussed, with explanations provided on how it would affect different property owners, noting that over half of property owners would see a decrease compared to the previous year's property taxes and fire protection fees combined.