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City of Rome, Georgia

The audited FY2024 financial results for Rome — county seat of Floyd County — drawn entirely from the city's own Annual Comprehensive Financial Report and Single Audit Report. Rome's fiscal year is the calendar year, and every figure below carries its fiscal year and audit status.

FY2024 · Audited

$670,657,961

Total net position

Government-wide, accrual basis, at December 31, 2024.

FY2024 · Audited

+$82,609,668

Change in net position

Total revenues of $190,918,996 less total expenses of $108,309,328.

FY2024 · Audited

$54,722,007

Combined governmental fund balance

All governmental funds, modified accrual basis, at December 31, 2024.

FY2024 · Audited

$27,684,237

General Fund unassigned fund balance

The unassigned portion of the $29,226,974 General Fund balance.

FY2024 · Audited

$23,156,339

Outstanding debt

Bonds/COPs, notes, intergovernmental agreements, financed purchases and leases — see Section 5 for what this excludes.

2024 · Census

38,111

Population

2024, U.S. Census Bureau, as reported in the FY2024 ACFR.

Read FY2024 with one-time items in mind: governmental capital grants of $70,322,485 (including $57,561,099 for Education) and a $161,234,250 water treatment plant restriction reflect large one-time capital contributions and legal-settlement proceeds. FY2023 business-type revenues of $231,522,317 included a much larger water legal settlement, so year-over-year revenue comparisons need that context.

Government-Wide Results — FY2024 Audited

Accrual basis · Government-wide

The city as a whole at December 31, 2024, split between governmental activities (tax-supported) and business-type activities (fee-supported). Audited by Mauldin & Jenkins, LLC, with unmodified opinions.

Net position by component — FY2024, Audited
ComponentGovernmentalBusiness-typeTotal
Net investment in capital assets$238,250,910$204,013,275$442,264,185
Restricted$26,501,452$162,878,513$189,379,965
Unrestricted($13,342,998)$52,356,809$39,013,811
Total net position$251,409,364$419,248,597$670,657,961

Governmental unrestricted net position is a deficit of ($13,342,998), attributed in the ACFR to the GASB 75 total OPEB liability. The business-type restricted balance is dominated by a $161,234,250 water treatment plant restriction — legal-settlement proceeds.

Revenues — FY2024, Audited (accrual basis)

Capital grants (governmental)$70,322,485
Business-type activities (total)$70,781,544
Property taxes$18,378,162
Other taxes$13,444,819
Sales taxes$9,924,348
Charges for services (governmental)$3,930,307
Miscellaneous, incl. interest$3,091,027
Operating grants$1,046,304
Governmental activities subtotal$120,137,452
Total revenues$190,918,996

Expenses by function — FY2024, Audited (accrual basis)

Water & sewer (business-type)$24,522,224
Fire (business-type)$18,424,404
Public works (governmental)$13,131,083
Public safety (governmental)$12,817,786
General government (governmental)$10,720,833
Solid waste management (business-type)$4,885,925
Solid Waste Commission (business-type)$4,664,905
Education (governmental)$3,403,986
Transit (business-type)$3,288,112
Community development (governmental)$2,341,140
Public facilities (governmental)$2,290,786
Municipal golf (business-type)$1,836,279
Tennis center (business-type)$1,754,324
Forum (business-type)$1,396,658
Building inspection (business-type)$1,156,852
Public services (governmental)$1,031,116
Interest on debt (governmental)$530,485
Public facilities (business-type)$112,430
Governmental activities subtotal$46,267,215
Business-type activities subtotal$62,042,113
Total expenses$108,309,328

The Education expense and the $57,561,099 education capital grant relate to school facilities funded through the city/SPLOST as printed in the statements — they are not Rome Board of Education operating figures.

Source: City of Rome, Georgia — Annual Comprehensive Financial Report, fiscal year ended December 31, 2024 (FY2024, Audited) — Statement of Net Position and Statement of Activities.

Governmental Funds — FY2024 Audited

Modified accrual basis · Governmental funds

The city's tax-supported funds on the modified accrual basis — a different measurement basis from the government-wide figures above, so the two sets are never combined.

Revenues by source

Taxes$40,791,135
Intergovernmental$13,459,264
Interest earned$2,784,688
Licenses & permits$2,365,426
Fines & forfeitures$1,060,867
Miscellaneous$741,882
Charges for services$504,014
Total revenues$61,707,276

Expenditures by function

Capital outlay$17,537,366
Public safety$11,498,668
General government$9,416,964
Public works$7,549,151
Community development$2,235,522
Public facilities$1,850,684
Debt service — principal$1,122,154
Public services$960,390
Debt service — interest$362,714
Total expenditures$52,533,613

Fund balances by fund — December 31, 2024

General Fund$29,226,974
SPLOST$10,281,179
Capital$8,371,818
Nonmajor$6,842,036
Combined governmental fund balance$54,722,007

Net change in governmental fund balances for FY2024: −$6,152,354 (modified accrual basis).

Source: City of Rome, Georgia — Annual Comprehensive Financial Report, fiscal year ended December 31, 2024 (FY2024, Audited) — governmental fund statements.

Enterprise Funds — FY2024 Audited

Accrual basis · Proprietary (enterprise) funds

Operating revenues of the city's fee-supported enterprise funds. Fire protection in Rome is reported as an enterprise activity.

Water & Sewer$27,835,257
Fire$10,071,771
Nonmajor enterprise$7,115,571
Solid Waste Commission$5,553,219
Tennis Center$564,778
Total enterprise operating revenues$51,140,596
Enterprise funds ending net position
$417,955,086 (FY2024, Audited)
Water & Sewer net position
$356,614,798 — includes a $7,000,000 legal settlement in FY2024

Source: City of Rome, Georgia — Annual Comprehensive Financial Report, fiscal year ended December 31, 2024 (FY2024, Audited) — proprietary fund statements.

General Fund Budget vs. Actual — FY2024

Modified accrual basis · General Fund

From the budget-and-actual schedule in the ACFR's required supplementary information (pp. 96–104). Rome publishes no standalone adopted budget book — these Original Budget / Final Budget / Actual columns are the budget record. Budgets are adopted on a GAAP basis for governmental funds except Capital Projects, which use project-length budgets; FY2024 amendments totaled $1,612,414.

General Fund revenues — FY2024
RevenueOriginal BudgetFinal BudgetActual
Ad valorem taxes$14,953,450$15,303,450$15,146,154
Other taxes$18,454,500$18,954,500$18,557,999
Licenses, permits & fees$2,497,000$2,497,000$2,365,426
Intergovernmental$445,000$445,000$468,333
Fines & forfeitures$1,163,500$1,163,500$1,060,867
Other revenues$995,500$995,500$1,942,625
Total revenues$38,508,950$39,358,950$39,541,404
General Fund expenditures — FY2024
ExpenditureOriginal BudgetFinal BudgetActual
General government$9,219,374$9,959,666$9,416,964
Public safety$11,958,975$11,503,800$11,498,668
Public works$7,821,554$7,915,054$7,549,151
Public facilities$758,740$797,325$751,315
Public services$1,191,725$1,191,725$810,390
Community development$387,876$480,000$462,464
Total expenditures$31,338,244$31,847,570$30,488,952
Net change in General Fund balance — FY2024
MeasureOriginal BudgetFinal BudgetActual
Net change in fund balance−$2,955,726−$2,897,641−$1,114,021

Ending General Fund balance (actual): $29,226,974. The net-change line is as reported in the ACFR schedule, which also reflects other financing sources and uses not itemized in the tables above.

Source: City of Rome, Georgia — Annual Comprehensive Financial Report, fiscal year ended December 31, 2024 (FY2024, Audited) — Required Supplementary Information, pp. 96–104.

Long-Term Debt & Obligations — FY2024 Audited

Long-term liabilities per Note III-E of the FY2024 ACFR. The governmental total is dominated by pension and OPEB obligations, not borrowed money; the business-type total is dominated by the landfill closure/postclosure liability.

Governmental activities — long-term debt table

Net pension liability$29,103,169
Total OPEB liability$17,057,614
Notes payable$5,630,105
Certificates of participation$4,527,000
Intergovernmental agreements$3,830,000
Compensated absences$2,189,054
Discount on notes payable($668,138)
Governmental total$61,668,804

Business-type activities — long-term debt table

Landfill closure / postclosure$18,035,116
Revenue bonds$5,870,000
Compensated absences$3,752,466
Financed purchases$2,116,010
Notes payable$1,368,317
Unamortized bond premium$446,740
Lease liabilities$36,305
Business-type total$31,624,954
Headline outstanding debt
$23,156,339 — bonds/COPs, notes, intergovernmental agreements, financed purchases and leases; excludes compensated absences and landfill closure/postclosure
Legal debt margin
$178,019,019 (FY2024, Audited — note disclosure)

Source: City of Rome, Georgia — Annual Comprehensive Financial Report, fiscal year ended December 31, 2024 (FY2024, Audited) — Note III-E.

Federal Awards

Federal grant spending reported in the city's single audits. The FY2025 document is a Single Audit Report only — it is not FY2025 financial statements, and no FY2025 revenue, expenditure, fund-balance, or net-position figures are published here.

FY2024 · Audited

$2,985,714

Total expenditures of federal awards — FY2024

Schedule of Expenditures of Federal Awards inside the FY2024 ACFR. Major program: Federal Transit Cluster. Low-risk auditee.

FY2025 · Single Audit Only

$6,205,965

Total expenditures of federal awards — FY2025

Year ended December 31, 2025. Sole major program: COVID-19 SLFRF (ALN 21.027), $2,200,000. Unmodified opinions; no findings or questioned costs; low-risk auditee.

Sources: City of Rome, Georgia — Annual Comprehensive Financial Report, fiscal year ended December 31, 2024 (FY2024, Audited — SEFA); City of Rome, Georgia — Single Audit Report, for the year ended December 31, 2025 (Single Audit only).

Notes & Disclosures

How these figures were sourced, and where the city's own documents need a caution.

  1. No adopted budget book. No standalone adopted budget book was found on romega.us — all budget figures come from the General Fund budget-and-actual schedule inside the FY2024 ACFR (required supplementary information, pp. 96–104), labeled Original Budget / Final Budget / Actual.
  2. The FY2025 document is a Single Audit only. The FY2025 document is a Single Audit Report only (dated June 26, 2026) — it is not FY2025 financial statements, and no FY2025 revenue, expenditure, fund-balance, or net-position figures are published here.
  3. Component units are excluded. The Rome Board of Education (net position −$94,991,911; GO bonds payable $111,705,521 at its June 30, 2024 year-end) and the Greater Rome Convention and Visitors Bureau (net position $270,446) are discretely presented component units, not the City of Rome, and are excluded from all city figures on this page.
  4. A $180 transposition typo in the ACFR. The MD&A debt table prints business-type notes payable of $1,368,137 and a total of $23,156,159; the note disclosure and narrative give $1,368,317 and $23,156,339 — an apparent $180 transposition typo in the table. This page uses $23,156,339.
  5. Two presentations of business-type liabilities. The ACFR's MD&A and its Statement of Net Position split business-type liabilities between current and long-term differently (a $51,520 difference) while agreeing on the $36,014,501 total; only the total is referenced here.
  6. One-time items drive FY2024. FY2024 governmental capital grants ($70,322,485, including $57,561,099 for Education) and the water treatment plant restriction reflect large one-time capital contributions and legal-settlement proceeds; FY2023 business-type revenues ($231,522,317) included a much larger water legal settlement, so year-over-year revenue comparisons need that context.

Sources

Every figure on this page comes from one of these two City of Rome documents. Official city website: romega.us.