The City of Columbia is pleased to announce that it has successfully achieved a clean audit report for the fiscal year 2024, with no discrepancies or issues identified. This accomplishment underscores the City’s unwavering commitment to fiscal responsibility and prudent management of taxpayer resources, highlighting yet another year of effective financial oversight.
In 2024, the City experienced a modest increase in total annual revenues, which rose by 1.3% to reach $67.1 million. Notably, local sales tax revenue saw a significant boost, climbing by 9.5% to $19.7 million. Additionally, revenue from licenses and permits surged by an impressive 52.9%, totaling $2.6 million. These figures reflect the City’s proactive approach to enhancing its revenue streams.
Moreover, the City has made strides in reducing its governmental debt, which decreased by $1.6 million, further demonstrating its commitment to financial prudence. The overall financial health of the City was bolstered as the governmental fund balance increased by 13.6%, reaching $8.8 million. This positive trend in financial management is also evident in the City’s sustained AA+ bond rating from Standard & Poor’s, a testament to its strong fiscal practices.
In addition to these achievements, the City of Columbia has been recognized for its excellence in financial reporting, having received the Excellence in Financial Reporting Award from the Government Finance Officers Association (GFOA) for an impressive 25 consecutive years. This accolade reflects Columbia’s dedication to transparency and high standards in financial management, reinforcing its reputation as a model of fiscal responsibility.
The Crockett Chronicle editorial team provides accurate, fact-checked reporting on local government, education, public safety, and community events across Lawrence County and surrounding areas. Our reporting follows strict editorial standards, relying on verified sources, public records, and first-hand reporting when possible. We are committed to delivering reliable information to our community while upholding transparency and accountability in every article.
Contact: [email protected] About the team: About Crockett Chronicle
Source Information
This article is based on information from public agencies, official statements, and verified public sources.
Editorial Note
This article was compiled using publicly available information and reviewed for accuracy prior to publication.
Corrections
If you notice an error in this article, please contact the newsroom at [email protected]. Corrections are published at the bottom of articles when needed.