As the city’s auditors faced the council at the January meeting, everyone braced for the results of the annual audit. What the auditors reported may have surprised some, but Mayor David Thompson expected nothing less than what he heard.
CPA Jon Meyer of Jones Nale & Mattingly PLC, began by explaining the overall results of the audit.
“This is our opinion on your financial statements,” he told the council. “It is unmodified, which is the highest level of assurance we can give you as auditors about the accuracy of the financial statements.”
Throughout the presentation, Meyer and fellow CPA Jonathon Eade, explained numerous positive trends that have taken place over the last three years, including a decrease in the city’s long-term debt, a decrease in the city’s net loss for the year (which has dropped from 2013), a significant decrease in the General Fund net loss, and improvement over the past three years in the net loss of the Parks and Recreation fund. Finally, the auditors reported a vast improvement in the budget verses actual expenditures, of which there was a positive $38,000 net income to the budget in 2015 compared a net loss of $156,000 from the year before.
“This is a huge turnaround,” Meyer told the council.
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