|AUDIT DOCUMENT COMPLETED|
OFFICIAL AUDIT REPORT 2-4-11 LMS
The final component of the city’s 2010 Audit has been added and the report is now complete.
Certified Public Accountant Bob Baker told the February 2nd meeting of the Salmon City Council that nothing had changed since his draft audit report except for the addition of a Management Discussion and Analysis report prepared by City Finance Director Amy Fealko. Baker encouraged council members to study the Analysis because of the information it contains. He said Fealko’s report concisely summarizes the entire audit and shows clear comparisons between 2010 and 2009.
Commenting on the $520,000 still in the City General Fund at the end of the last fiscal year Baker said, “It’s one of the healthier fund balances you’ve had in a number of years.”
The majority of city monies are located in the General Fund, Streets and Alleys, Sacajawea Center and the two enterprise funds of Water and Sewer.
Baker’s overall advice to the council was to keep track of expenditures on a monthly basis and look at the line items to make sure spending is staying within stated constraints. He said, “And, if there’s a major item that comes up, discuss it before you make a move in either direction.”
This winter’s heavy snowfall has necessitated the purchase of much more sand than usual which will affect the Streets and Alleys budget. Baker assured the council that by following proper procedures the budget can be opened and monies can be legally transferred between the General Fund and the Streets and Alleys Fund.
The city’s Finance Committee will be meeting on February 16th at 10AM in the Salmon Valley Center. The meeting is open to the public.
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