Aldermen accept financial audit Monday evening

The City of Teague Board of Alderman called a special meeting Monday, June 10 to accept the 2017-2018 Annual Financial Audit.

The Accounting Firm of Donald L. Allman, CPA, PC was on hand to present his report to the Aldermen and to answer any questions regarding the financial standing of the City.

According to the report submitted by Allman, the City of Teague’s total combined net position on government-wide financial statements for both the General Fund and Proprietary Fund was $5,077,084 at the end of September 2018.

“During the year, the City reported a net position increase of $365,354 in government-wide financial statements,” Allman reported. “The General Fund had a decrease of $34,617 and the Proprietary Fund had an increase of $399,971.”

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