The City of Sugar Hill’s FY2024 Annual Financial Report was presented to city council on Monday, July 14, 2025, by the city’s independent auditing firm – Mauldin & Jenkins, CPAs & Advisors. The report has been transmitted to the State Department of Audits & Accounts for review and approval. State law requires every city, county, and school district to have an audit completed annually and submitted to the state.
The city’s independent auditor found no findings or modifications, earning the city an “unmodified” opinion, also known as a clean audit. This indicates the city’s financial records are in full compliance with all governmental accounting standards. Cities that are not compliant with auditing requirements are not eligible for State of Georgia funding such as the LMIG grant for road paving and other state grants.
“I am proud of our management team and our entire staff that work hard every day to earn this designation. This is the eleventh consecutive year the city has received an “unmodified” audit opinion, said Mayor Hembree.
“City financial policies require 20 percent of our annual General Fund be set aside in reserves. For FY2024, the reserves were 110 percent of our General Fund operating budget. As of mid-year 2025, the city reports $39 million in cash on hand as well as $15 million in unrestricted reserves. This strong financial stability allows your city to maintain high quality city service we all have come to expect, while maintaining adequate reserves to respond to a natural disaster or dramatically changing economic conditions.
Copies of the FY2024 Annual Financial Report will be available on the city’s website after the August meeting of Mayor and Council. Pursuant to state law, the city also transmits the audit to the University of Georgia, the Georgia Department of Community Affairs, and various municipal bond rating and management entities.
About Sugar Hill
Incorporated in 1939, Sugar Hill is a northern suburb of Metro-Atlanta and the fifth largest city in Gwinnett County. Sugar Hill is a thriving live/work/play community, home to The Bowl amphitheater, the Eagle Theatre, E Center, Sugar Hill Splash Park, The Landing, unique restaurants and boutiques, luxury apartment homes, the Sugar Hill Art Gallery and History Museum, City Hall, a Veterans Memorial, a popular and expanding greenway, and many parks and greenspaces.
To learn more about Sugar Hill, visit www.cityofsugarhill.com. To learn more about downtown Sugar Hill, visit www.downtownsugarhill.com
