Kingsport receives clean financial audit for 25th year

The city of Kingsport’s Annual Comprehensive Financial Report (ACFR) received a clean audit, the 25th year in a row Kingsport’s finances have received a clean opinion – the highest opinion offered. This also marks the 23rd straight year the city’s financial report received a GFOA Certificate of Achievement for Excellence in Financial Reporting. Kingsport’s ACFR is a detailed review of city government (including schools, utilities, and economic development). The document covers 36 separate funds and all manner of financial issues from cash flow to long-term debt to governmental assets. Additionally, Moody’s Investor Service and Standard and Poor reaffirmed their Aa2 and AA ratings for the city, respectively.