City auditor: Alexander City general fund deficit narrowed in 2022; utilities remain profitable
July 07, 2025 | Alexander City, Tallapoosa County, Alabama
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The Alexander City Council heard a presentation on the city's fiscal year that ended Sept. 30, 2022, during its July 7 meeting, when an auditor summarized results and progress on prior-year financial issues.
The auditor told the council the city's general fund still carries a deficit but that "it's continuing to improve," and that the utilities recorded net income in 2022.
The auditor said the fund income statement on page 12 showed the general fund deficit remains but is smaller than in prior years, and that the utility funds shown on page 16 all reported positive net income and retained earnings. The presenter also noted the finance department and named staff have worked to clear several prior-year findings, including record retention and budget-process items.
"We still have a deficit, but it's continuing to improve," the auditor said, adding that the city is no longer experiencing the repeated net losses seen in earlier years. The auditor highlighted work to address prior findings such as untimely reconciliations and incomplete financial policies, and said those issues are being resolved and expected to drop off in future audits.
Council members asked few follow-up questions during the presentation. Council President Pro Tem Chris Brown and others thanked finance staff for the improvements; the auditor noted work would continue on closing subsequent years and that the finance department and external accountants would move to wrap up 2023 and begin 2024 work.
The auditor also pointed council members to a required communications letter that accompanies the financial statements; the letter explains estimates in the statements, such as pension valuations, and notes that the audit team had no disagreements with management.
The presentation closed with the auditor offering to answer questions about the audit process and next steps; council members expressed appreciation to finance staff for progress on clearing findings and improving reporting.
Looking ahead, the auditor said the city and finance staff are continuing work on 2023 and 2024 accounting closeouts so those years will be available for review in upcoming cycles.
The auditor told the council the city's general fund still carries a deficit but that "it's continuing to improve," and that the utilities recorded net income in 2022.
The auditor said the fund income statement on page 12 showed the general fund deficit remains but is smaller than in prior years, and that the utility funds shown on page 16 all reported positive net income and retained earnings. The presenter also noted the finance department and named staff have worked to clear several prior-year findings, including record retention and budget-process items.
"We still have a deficit, but it's continuing to improve," the auditor said, adding that the city is no longer experiencing the repeated net losses seen in earlier years. The auditor highlighted work to address prior findings such as untimely reconciliations and incomplete financial policies, and said those issues are being resolved and expected to drop off in future audits.
Council members asked few follow-up questions during the presentation. Council President Pro Tem Chris Brown and others thanked finance staff for the improvements; the auditor noted work would continue on closing subsequent years and that the finance department and external accountants would move to wrap up 2023 and begin 2024 work.
The auditor also pointed council members to a required communications letter that accompanies the financial statements; the letter explains estimates in the statements, such as pension valuations, and notes that the audit team had no disagreements with management.
The presentation closed with the auditor offering to answer questions about the audit process and next steps; council members expressed appreciation to finance staff for progress on clearing findings and improving reporting.
Looking ahead, the auditor said the city and finance staff are continuing work on 2023 and 2024 accounting closeouts so those years will be available for review in upcoming cycles.
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