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The city’s finances were given the seal of approval for the 2011-2012 fiscal year, according to an audit conducted by Wise, Buckner, Sprowles & Associates.
At the Campbellsville City Council’s regular meeting last Monday, Jeff Sprowles said the city has $41,584,819 in total assets.
Sprowles praised the city for its efforts to increase the amount of cash and cash equivalents, which is $1.3 million, up $961,631 from the prior year.
Sprowles reported that they did find a significant deficiency in accounts payable, although he stressed that it is not a material weakness.
Campbellsville Mayor Tony Young said the issue isn’t that there are unaccounted for funds or missing inventory, but a matter of keeping the bookkeeping up-to-date in order to clearly see finances moving through the city’s accounts.
“You just want to make sure that you record things properly,” Young said. “There wasn’t anything unaccounted for, there wasn’t anything missing, there wasn’t anything done wrong on any person’s part or even a particular practice of what they did. It’s just an actual entry needed to be made a couple times. And they were done, they just weren’t done in the timeframe that he requested.”
Sprowles said the issue can be solved by allowing City Clerk Cary Noe to focus on the city’s finances and letting someone else take care of human resources and employee insurance and benefits.
Also at the Meeting:
• Young presented the November financial report, which shows the city has spent 46 percent of its budget for the 2012-2013 fiscal year, which was 42 percent complete as of November.
• The council approved the purchase of a 2013 Chevrolet Tahoe for Campbellsville Fire & Rescue, to be financed by OshKosh Capital with a 2.75 percent interest rate. Young said the vehicle, which costs $31,000, will be paid for in two years.
• Campbellsville/Taylor County EMS Director Gary Magers said the city’s new medic unit is expected to arrive this month. Councilman Stan McKinney asked if the city’s fleet of vehicles is in good shape.
Young said Fire & Rescue and EMS are, but Campbellsville Police Department can use another vehicle.
Young said the recent purchase of new vehicles will save the city money because the monthly payment is less than the cost to maintenance its older vehicles.
• The council declared several Fire & Rescue, Codes Enforcement and EMS as surplus. Items include a 1997 Dodge truck, a 1997 Ford truck, a 1987 Chevrolet ambulance, a 2002 Chevrolet Tahoe, a 1999 Ford van, a 2001 Ford Crown Victoria and various electronic equipment. Young said the city is considering trading the surplus vehicles and items in or selling them online to make a higher profit.
• The council met in special session for about an hour before the regular meeting to discuss the purchase or sale of property and personnel. No action was taken.