The Bladenboro Town Council met on Monday and received the audit report from Bryon Scott of Thompson, Price, Scott, Adams and Company in Elizabethtown.
Scott told the board the town has revenues for the general fund of about $1.3 million and a fund balance in the general fund of about $300,000. He told the board the town has an ad valorem tax valuation of about $87 million.
The board learned that expenditures for the town were up last year but that is due to a fire truck purchase and the use of Powell Bill funds. The fire district assisted the town with the purchase of the fire truck. Scott told the board that the total undesignated fund balance is at 11 percent. Undesignated fund balance is the amount of funds that are not budgeted but can be utilized in the case of emergency.
“The fund balance is what you have to get municipalities through disasters and other things that can occur. Your fund balance is extremely important,” said Scott.
Scott told the board that the water department has increased its revenues over last year. He added the expenditures for the water department are moving down, but the department is still showing deficits though not as severe as last year.
Scott said that he and his staff have to render an opinion of the town’s financial situation. He said the opinion he rendered is an unmodified opinion which is the best opinion a local government can receive.
Scott there were no changes to the accounting policies. He added there was one finding regarding internal controls and that is segregation of duties. Scott said that is because there are only two people working in the town’s accounting department.
In other business:
*The board voted to approve the pay and classification update as presented by vote of 6-1.
Councilman Billy Ray Benson, who cast the lone no vote, said, “I’m all for the pay classifications, but we’ve got to realize we are a small town.”
“Let me clarify, these are not for pay raises,” said Councilman Cris Harrelson.
*Town Administrator John O’Daniel said the depot renovation is scheduled for June.
*The Planning Board will meet on January 3 to discuss outdoor storage.
*Town staff will be meeting with FEMA on Thursday, December 15, to start the process of submitting receipts the town incurred during Hurricane Matthew for reimbursement.
About Author
