Christian Hatch, an accountant with Williamson & Co. CPA’s, presented the FY13 audit to the council. He told them that two of the city’s three funds had lost revenues while one increased.
“The city reported an increase of $84,158 primarily due to property taxes that were instituted in the current year combined with cost control efforts,” Hatch said. “Fund revenues increased to $1,239,739 from $986,670 while expenditures totaled $1,155,353 compared to $1,161,151 in FY2012.”
Hatch said the water fund posted an operating loss of $28,014, excluding depreciation expense, which totaled $313,625. Total operating costs were $341,639.
Opening cash flow for the sanitation fund was $1,712. The fund had an operating income of $3,246, excluding depreciation expenses, which totaled $22,356. The total operating loss for the sanitation fund was $19,110.
Council approved the audit unanimously.
Council person Brenda Tidwell, Emerson’s first female elected official, attending her final meeting, had some words of advice for her colleagues.
“We have a drug problem in some parts of town that I hope you can clean up,” she said. “And I hope you don’t let LakePoint get by without paying any taxes. We have to pay taxes and they should, too.”
Ten minutes and 26 seconds after the quick ride began, Pallone gaveled adjournment.
Emerson’s first meeting of the new year is slated for Jan. 14 at 7 p.m. at city hall.