The financial audit report was compiled by R.L. Jennings & Co., PC, of Ellijay.
City Manager Rob Logan said the final audit report was issued June 30. Logan hit the highpoints of the 49-page report, including the balance sheet, which reports an ending fund balance as of Dec. 23, 2011, of $2.2 million.
“We’ve done a good job making that the fund balance for the general fund,” Logan said.
The city’s capital improvement fund reported a deficit of $211,057. Logan said during the meeting that the city will transfer funds during this fiscal year to cover the deficit.
The fund balance for the city’s Special Purpose Local Option Sales Tax, SPLOST III, is about $1.4 million and the total of non-major governmental funds is at $521,590.
The report also details the amount in each of the city’s small funds, including $454,963 in parks and recreation, $4,032 in hotel/motel tax revenues, $38,361 in multiple grant funds and $24,324 in capital grant funds, totaling $521,590 in non-major governmental funds.
The audit also reports a schedule of findings, and the only problematic audit finding was a “lack of segregation of duties.” Logan said the city can’t change this issue because of the limited number of staff in the finance department, which includes himself and one other employee.
Mayor Tim Downing said the audit finding regarding segregation of duties has been a consistent comment for as long as he’s been with the city.
“With as small as we are, it’s just impossible to satisfy that recommendation,” Downing said.
At the meeting, council members Karen Barnett and Dee Phillips were absent.
The city also made several presentations to employees for outstanding achievement.
Suzy Campbell, administrative assistant at the Holly Springs Police Department, was honored with Employee of the Second Quarter.
Sam Rentz, an officer with the Holly Springs Police Department, was awarded Officer of the Second Quarter.
The Outstanding Achievement Award was awarded to Denise Lamazares, a financial services representative with the city of Holly Springs, for her efforts in preparing the city’s budget.
Also during the meeting, the council:
* Approved 3-0 the ordinance to amend the official city code to include the definition and operating restrictions of off-road vehicles as well as the definition, enforcement and penalties of “perennial stream”;
* Approved 3-0 the $12 minimum price per square foot for the commercial listing agreement at 101 Harmony Lake Drive, the former bank building;
* Approved 3-0 to renew the commercial open listing and exclusive seller listing agreement with Prudential Realty for 101 Harmony Lake Drive. The agreements will expire in September, and the new agreement will increase commission paid to the broker by $6,460. The exclusive seller agreement is to procure a buyer for the property at the minimum price of $1.2 million, including 6 percent commission. The agreement is based on an $18 per square foot rate;
* Approved 3-0 a resolution to establish a money market account with Ameris Bank for the Special Purpose Local Option Sales Tax IV. The one-cent SPLOST, voted on by the citizens of Holly Springs, will begin July 1 and extend until June 30, 2016. Logan said the city will receive its first check in August and requires a money market account to handle and account for deposits and expenditures of funds received from SPLOST IV.
* Approved 3-0 a resolution to extend hotel motel and extended stay moratorium for an additional 60 days. The original 90-day moratorium, approved by council April 16, will be extended to ensure adequate time to fully study the legal and practical factors involved in revising the Hotel, Motel and Extended Stay Facilities Code, according to the resolution. Community Development Manager Nancy Moon said during the work session she intended to present the information to the Planning Commission in August, but will bring the information to council in September; and
* Approved 3-0 the June 4 work session minutes and the June 18 council meeting minutes.
Post a Comment