Peachtree

City is in good financial shape, according to reports

from the city's auditor.

The annual

audit for the period ending Sept. 30, 1999, shows an

increase in the city's unreserved cash balance from $1.4

million to $1.85 million. Both general fund revenues and

expenditures were favorable compared to budget estimates,

the city's finance staff reports.

This

increase means the city is closer to its goal of having

an unreserved cash balance equal to three months of the

total general fund operating budget, which would be $2.8

million. But when just over $1 million in self-insurance

reserve is added, that figure is met.

Staff

recommended during last week's City Council meeting that

the $451,869 cash surplus be added to the unreserved cash

balance and that a cash reserve policy be added to the

city's administrative regulations. That was not done,

although the council voted unanimously to accept the

audit report.

Ed

Wetherington, the city's auditor, commented that the city

has come a long way from past years, when money was

sometimes borrowed in anticipation of future tax revenues

because not enough money was on hand. The mayor and

council heartily agreed with that assessment.