Gregory T. Redman, an auditor from Greenville, told council there were no exceptions and the city complied with all governmental accounting principles.
Redman told council its tax collection rate was 95.74 percent. While the statewide average is 97 percent, he said, “Almost 96 percent is a good collection rate.”
There were no internal control findings within departments, Redman said.
Mayor Emery Doughtie thanked the finance department and other department heads for their work that led to the pristine document. “It sends a message we’re trying to look out for our money and spend it wisely.
In a matter related to the fund balance, council tonight, with Greg Lawson absent, unanimously approved a general fund balance resolution which is a checks and balances system which will require the city to watch expenditures.
According to a memo from Finance Director MeLinda Hite, the policy will do the following:
Provide sufficient cash flow for daily financial needs.
Secure and maintain investment grade bond ratings.
Offset significant economic downturns or revenue shortfalls.
Provide funds for unforeseen emergency expenditures.
While during a March retreat council discussed setting the percentage at 30 percent, council OK’d putting it at 25 percent.
In other matters tonight:
Firefighter Jayme Shelburne was promoted to fire engineer.
Council approved a $250 Christmas bonus for employees, coming from the $50,000 the city received from the sale of the old airport property. The remainder, $8,823, will go to the Public Works Department for street repairs.
Council approved a special use permit that would allow Doris High to run a child daycare from her home at 311 Highway 158. She had previously operated the business on South Hamilton Street before moving.
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