Document · seen July 16, 2026
2024 Audit
The Comprehensive Annual Financial Report of the City of Pottsville, Pennsylvania for the year ended December 31, 2024, including an independent auditor's report and management's analysis of the city's financial activities and position.
Independent Auditor's Report
We have audited the accompanying financial statements of the governmental activities, the business-type activities, the aggregate discretely presented component units, each major fund, and the aggregate remaining fund information of the City of Pottsville, Pennsylvania, as of and for the year ended December 31, 2024, and the related notes to the financial statements, which collectively comprise the City's basic financial statements.
In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities, the business-type activities, the aggregate discretely presented component units, each major fund, and the aggregate remaining fund information of the City of Pottsville, Pennsylvania, as of December 31, 2024, and the respective changes in financial position and, where applicable, cash flows thereof for the year then ended in accordance with accounting principles generally accepted in the United States of America.
Auditor's Responsibilities for the Audit of the Financial Statements
- Exercise professional judgment and maintain professional skepticism throughout the audit.
- Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks.
- Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances.
- Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management.
- Conclude whether there are conditions or events that raise substantial doubt about the City's ability to continue as a going concern for a reasonable period of time.
Management's Discussion and Analysis
Financial Highlights
- The assets of the City exceeded its liabilities by $4,888,123 (Net Assets) as of December 31, 2024.
- The City's total net assets decreased by $1,187,479 during the fiscal year.
- As of the close of the fiscal year, the City's governmental funds reported combined ending fund balances of $2,352,254.
- The unreserved fund balance for the general fund was $2,351,573 at the end of the fiscal year.
Overview of the Financial Statements
The City's basic financial statements are comprised of three components: government-wide financial statements, fund financial statements, and notes to the financial statements.
Government-wide Financial Statements
The government-wide financial statements are designed to provide readers with a broad overview of the City's finances, in a manner similar to a private-sector business. The Statement of Net Position presents information on all of the City's assets and liabilities. The Statement of Activities presents information showing how the City's net assets changed during the fiscal year. Both statements distinguish functions principally supported by taxes and intergovernmental revenues (governmental activities) from functions intended to recover costs through user fees and charges (business-type activities). Governmental activities include general government and administration, public safety, development services, and cultural and recreation. Business-type activities include the Parking Authority and Sanitation.
Fund Financial Statements
The City uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements. Governmental funds account for the same functions reported as governmental activities in government-wide financial statements but focus on current sources and uses of spendable resources. The City maintains four governmental funds. Proprietary funds, including three enterprise funds, account for solid waste operation, Centre Street Intermodal operation, and the Pottsville Parking Authority.