The city of Richmond got this year’s financial audit completed two months earlier than a year before, and assets were up by $7 million while liabilities are down by $2 million.
Lee Ann Waters of Mountjoy Chilton Medley LLP met with the city commission in a called session prior to Tuesday night’s regular meeting.
The auditors found no deficiencies, non-compliance or issues of internal control, she said.
“There were no disagreements with management, no problems or difficulties with the audit this year, and we are all very pleased with that,” Waters said.
Total general revenue of $22 million was up $5.3 million from the previous year.
“Total assets are at $223,821,584, which is an increase of $7 million from last year,” Waters said. “Mainly the increase was all in government activity, which is great.”
“Liabilities have decreased $2 million from last year, which is good as well,” she added. “The mayor will be happy to hear that the net position is at $126 million, which is an increase of $10 million, with $94 million invested. Look at that smile on the mayor’s face.”