Peachtree City is in good financial shape, according to reports from the city's auditor.

The annual audit for the period ending Sept. 30, 1999, shows an increase in the city's unreserved cash balance from $1.4 million to $1.85 million. Both general fund revenues and expenditures were favorable compared to budget estimates, the city's finance staff reports.

This increase means the city is closer to its goal of having an unreserved cash balance equal to three months of the total general fund operating budget, which would be $2.8 million. But when just over $1 million in self-insurance reserve is added, that figure is met.

Staff recommended during last week's City Council meeting that the $451,869 cash surplus be added to the unreserved cash balance and that a cash reserve policy be added to the city's administrative regulations. That was not done, although the council voted unanimously to accept the audit report.

Ed Wetherington, the city's auditor, commented that the city has come a long way from past years, when money was sometimes borrowed in anticipation of future tax revenues because not enough money was on hand. The mayor and council heartily agreed with that assessment.

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