Toccoa Sees Preliminary Fiscal Year End Numbers

Toccoa Finance Director Cathy Loudermilk said that the city had a relatively good year financially.

She presented preliminary year-end financial numbers for the year ending June 30 at Monday’s Toccoa City Commission meeting.

At this point, Loudermilk reported that the city had a net income for Fiscal Year 2015 of $252,175.

According to the June 30 preliminary figures, Toccoa had a total of $28,453,171 in revenues for Fiscal Year 2015 and spent $28,200,996 in expenditures for the fiscal year that ended June 30.

Preliminary June 30 numbers do show that the city ended the fiscal year with slightly less operating cash than it did a year ago.

In 2015, the city had $1,388,945 in operating cash as of June 30, compared to $1,767,276.

Also, the Commission Reserve Account has slightly less in it as of June 30 this year than in 2014, but she said the difference is only about $65,000.

Loudermilk noted all of the projects that the city took on this fiscal year, including the golf course, the purchase of software, and the Currahee Beautification Project, among others.

In addition, the city of Toccoa purchased more than $700,000 worth of vehicles and equipment in Fiscal Year 2015, as well as retired $2.344 million in debt during the fiscal year, with most of that being gas debt.

Loudermilk noted that all of these numbers will change as some things accrue back in to Fiscal Year 2015 over the next couple of months.