City council presents audit report

At the Gatesville City Council meeting held on Tuesday, Feb. 6, Dane Legg, CPA, of Lott, Vernon, and Company, P.C. presented the city’s annual financial audit report for the year which ended Sept. 30, 2017.

The report concluded that the assets of the city exceed its liabilities by $15, 839,127 (net position). Of this amount, $15,136,435 is restricted for capital assets and $1,648,136 is restricted for debt services.

 

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