Stockbridge Receives Clean Audit Opinion on 2025 Financial Statements

STOCKBRIDGE, Ga. – The City of Stockbridge has received an unmodified, or "clean," opinion on its financial statements for the fiscal year ended December 31, 2025. Independent auditor Mauldin & Jenkins LLC presented the findings, indicating the highest level of assurance that the city's financial statements fairly present its financial position in accordance with generally accepted accounting principles.

Key figures from the audited statements show a General Fund balance of $17.9 million, representing approximately 72 percent of annual expenditures and exceeding the Government Finance Officers Association's recommendation of two months of operating expenses. The city's total net position increased by $14.4 million from the prior year to $156.0 million. Unrestricted net position, available for ongoing obligations, rose from $9.3 million to $23.7 million.

The audit did identify five material weaknesses in the city's internal controls over financial reporting. These relate to the recording and reconciliation of receivables and revenue, depreciation, capital assets, interfund activity, and amphitheater expenditures. The city has concurred with the auditors' findings and provided corrective actions for each. City Treasurer Frank S. Milazi stated the clean opinion confirms the reliability of the financial statements and the growth in net position indicates improving financial health.

Additionally, the city received an unmodified opinion on its compliance with federal requirements for major federal programs, including Coronavirus State and Local Fiscal Recovery Funds. The complete fiscal year 2025 Annual Comprehensive Financial Report is available for download on the city's website.