The City of Columbia Receives a Clean Audit Report for Fiscal Year 2024

With no errors or deviations noted, the City of Columbia is happy to report that it has obtained a clean audit report for the fiscal year 2024. The City’s continued dedication to fiscal discipline and careful stewardship of taxpayer funds is demonstrated by this clean audit, which marks another year of strong financial management. In 2024, the City’s total yearly revenues climbed by 1.3% to $67.1 million. Revenue from local sales taxes increased by 9.5% to $19.7 million, while licenses and permits increased by 52.9% to $2.6 million. Furthermore, the City’s governmental debt dropped by $1.6 million, indicating the City’s continued dedication to debt reduction. The City’s financial position was further strengthened as its governmental fund balance increased by 13.6% to $8.8 million. The City’s excellent financial position and sound fiscal management are reflected in the fact that it has maintained its AA+ bond rating from Standard & Poor’s in addition to these financial benefits. The City has also received the Excellence in Financial Reporting Award from the Government Finance Officers Association (GFOA) for 25 years running, demonstrating Columbia’s commitment to openness and superior financial management.