OCR Text |
Show Despite Prior Debts Centerville Now Operates General Fund In The Black By GARY R. BLODGETT CENTERVILLE - Despite added expenses for flood control and reconstruction - along with "bad debts" from previous years - Centerville Cen-terville City is "on a sound financial basis." THIS WAS the summation of an audit reported re-ported by KMB Main Hurdman. Certified Public Pub-lic Accounts, to the Centerville City Council last Tuesday night. The audit, which covered the fiscal year 1983-84 and ended last June 30, showed the city operating in the black for the first time in several sever-al years. A SPOKESMAN for the auditing firm said the council and city staff have done "a magnifi-cant magnifi-cant job of controlling spending and bringing the general fund budget back into line." He said the city is experiencing good financial finan-cial policies and restraints and through the changeover to a new computer system is following fol-lowing a sound basis of fiscal management. HE ALSO praised the city's "watchdog committee" com-mittee" for following safeguards and sound fiscal fis-cal practices while "keeping an eye on revenues re-venues and expenditures." The spokesperson did. however., note the correction of several clerical errors which he contributed primarily to the changeover of the computer system. ; HE SAID the general fund had a balance of ! about $70,000 at the close of the fiscal year ; after experiencing a deficit of about $22,000 at ; the close of fiscal year 1983. He also noted that general fund revenue increased in-creased by about $165,000 and general fund i expenditures topped $170,000 - but still re- ; mained under the anticipated budget total. : FLOOD DAMAGE repairs and reconstruction reconstruc-tion totaled just over $700,000 but the city was . : reimbursed $522,000 and the balance - or near- : ly the total balance is expected to be reco- vcrcd through state and federal funding still not appropriated, according to the audit. City officials were cautioned to be careful in their changeover to the computer system so ' that incorrect figures will not be entered and : give the city a deceived look at its financial . status. . : MAYOR NEIL Blackburn also praised the : council and staff for their continuous efforts to : : control expenditures. ; : Centerville got into "serious financial trou- I ble" in 1980 w ith the sale of about 105 acres of land in the city's Industrial Park. The sale, which was on a real estate contract, did not j provide the city with yearly payments as were J agreed upon. Thus, the city carried a deficit -- until this year, the auditor explained. |