The Hopkinsville City Council received a clean audit report from a local firm during tonight’s meeting.
John DeAngelis with York, Neal and Co. of Hopkinsville told council members the financial practices of officials were appropriate during this past fiscal year, which ended on June 30th, 2011.
According to the report, the city had $26.9 million in assets and the city’s net assets increased $875,000, but net assets of business-type activities decreased by $36,000.
In addition, DeAngelis told council members the city’s governmental activities total debt decreased overall by $589,000.
The audit report also indicated that there were no material weaknesses or significant deficiencies found in financial statements or in federal awards.
DeAngelis gave the City of Hopkinsville a credit rating of AA-.
The council then went into closed session, but took no action concerning possible litigation.