The city of Rocky Mount, North Carolina, has been working diligently to rectify its finances after a scathing report from State Auditor Dave Boliek was released in March. The report detailed a lack of oversight that led to the mismanagement of millions of dollars in city funds.

Progress Made

At a recent NC Local Government Commission meeting, city officials reported that they have made steady progress in getting their finances back on track. The city has submitted its fiscal year 2025 audit and drafted a budget for fiscal year 2027, which was approved by the council with a 4-3 vote.

Cornelius Jordan, assistant city manager and public information officer, stated that the city has made significant progress in stabilizing its finances, but continued focus, discipline, and sound financial management are required to maintain momentum. The city’s cash position has also improved since March, with projections showing that finances will stay afloat through the end of the calendar year.

Challenges Ahead

Despite the progress made, the city still faces challenges, including a negative balance in the transit fund and the potential impact of Senate Bill 1076, which could restrict the city’s financial flexibility. The city is exploring ways to address these issues, including adjusting rates and fees, and is committed to providing core services to its residents.

Original reporting: Carolina Public Press — read the source article.