“Total assets exceeded total liabilities by $7,762,155,” Christian Hatch, an accountant with Williamson and Co. CPAs told the council.
Hatch pointed out the financial highlights of FY2012, which included a cash balance of nearly $3 million and fund balances of $2.8 million.
Council member Craig Guyton had to ask for further clarification.
“Even though our revenues were down from the budgeted amount,” he said, “did I hear you correctly that our expenditures were down $111,744?”
Hatch explained that the revenues, although down from 2011, were still more than anticipated.
“You don’t see that happening very much,” Guyton replied.
Next the council heard a first reading on a zoning request for the old Presbyterian Church education building that would allow the city to lease the building.
“We have had conversations with the church for about a year and a half now since the church ceased to operate as a church,” Planning and Zoning Director Ron Goss said. “This piece of property is the gateway to our downtown area. The cemetery trust that owns and operates the property wants to make sure that corner is handled with kid gloves.”
Goss said the planning and zoning commission had made several recommendations and the trust is in agreement.
“They are requesting a C-1 zoning, which will allow day care and educational facilities,” Goss said, “and softer retail facilities like restaurants, churches or banks.”
In other business, the council voted to accept a $120 a month quote from Waste Industries for trash pickup; approved a three-year lease with Ron and Nan Thomas to operate the Covered Bridge Country Store; and accepted a list of nominees for open positions on the city’s planning and zoning commission.
City attorney Boyd Pettit presented an amendment to the city’s alcohol and beverage ordinance that would mandate that private events, such as weddings, using city facilities require the catering service have insurance in addition to being licensed.
The council also approved new municipal court fines for traffic infractions and a fee structure for sports tournaments at Joe Cowan Park.
The Euharlee City Council will meet on July 16 at 7 p.m. for a work session.