In the heart of Newport, Tennessee, the City Council convened on May 18, 2025, to discuss the results of the recent financial audit, a crucial moment for the city’s fiscal health. As the meeting unfolded, the atmosphere was one of relief and optimism, with auditors presenting a clean bill of financial health for the city and its schools.

The audit, conducted by Brown, Jake, and McDaniels, revealed that the city’s accounting practices remained stable compared to the previous year. Tina, a key figure in the city’s financial management, distributed a letter summarizing the audit findings, which confirmed that there were no significant discrepancies or disagreements regarding accounting standards. The auditors issued an unqualified opinion, indicating that the financial statements were accurate and reliable.

A highlight of the audit was the city’s general fund, which boasted a robust balance of approximately $13.96 million. This figure included an unassigned fund balance of about $13.66 million, representing a healthy ratio of 100% compared to annual expenditures. Such a strong financial position is commendable, as anything between 50% to 75% is considered healthy. The city’s financial growth was further underscored by an increase of over $1 million in the general fund during the fiscal year.

The schools also fared well, with a growth of approximately $1.3 million in their fund balance, reflecting prudent financial management. The auditors noted that both the city and the schools had effectively addressed prior findings, resulting in a clean slate for the current audit.

As the meeting drew to a close, the discussion turned to the impact of recent flooding on the city’s finances. Officials acknowledged that the strong fund balance had been instrumental in facilitating a swift recovery from the disaster, allowing Newport to avoid taking on debt while other entities struggled.

With no questions from the council members, the auditors expressed their gratitude for the opportunity to serve, leaving behind a sense of confidence in Newport’s financial future. The meeting concluded on a positive note, with the city poised to continue its journey of fiscal responsibility and resilience.