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The original item was published from 1/27/2021 12:56:00 PM to 2/11/2021 3:34:14 PM.

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Posted on: January 13, 2021

[ARCHIVED] City’s financial statements comply with all standards, auditors say

BEAUFORT, S.C. (Jan. 13, 2020) – The City of Beaufort’s Comprehensive Annual Financial Report was presented to City Council at its Work Session on Jan. 12.

The Annual Financial Report is a look at the City’s finances during its fiscal year, from July 1, 2019, through June 30, 2020. The financial statements were audited by the accounting firm of Mauldin & Jenkins, LLC, which issued a “clean audit opinion” and noted that the City complied with government auditing standards.

The City has an AA rating from Standard & Poor’s and an Aa2 rating from Moody’s Investor Services for general obligation debt, meaning that the City has a very strong capacity to meet its financial commitments.

The Comprehensive Annual Financial Report can be found on the City’s website at http://bit.ly/3agmw17.

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