JDA whittling down long-term debt
The Grady County Joint Development Authority received a positive audit report from its auditor Tuesday.
Auditor Marc Davis of Tucker, Plymel and Davis of Moultrie presented the audited financial statement for the 2015 fiscal year.
In his report, Davis noted that the total debt of the JDA has been cut in half over the past six fiscal years from a high of $2.8 million in 2010 to $1.4 million at the end of 2015.
Over the same period, the authority’s cash has increased from $209,097 in 2010 to $445,233 at the close of business on Dec. 31, 2015.
From 2010 to 2012, the JDA received nearly $850,000 in grant incomes, but since 2013 the authority has not received additional grant funding.