11 24 2014

All Quinlan City Funds Grew During Past Year

By Larry Briscoe
Correspondent
All funds for the city of Quinlan grew in assets during the past year, according to the audit report Monday night to the city council at its regular monthly meeting.
In addition, auditor Hannah Nelson with Scott, Singleton, Fincher and Company said nothing was found wrong with the city’s financial accounts at the end of the fiscal year on Sept. 30, 2012. That answer was given to a question by Councilwoman Carolyn Strickland.
Strickland told Nelson she wanted her answer for the record and asked if during the preparation of the audit if anything was found out of line with the books.
“No internal control issues were found,” Nelson answered.
Quinlan’s worth increased to $7,129,454 in net assets, according to the audit report. Of that amount, $4,911,337 was invested in capital assets or restricted for debt service, leaving $2,218,117 of unrestricted net assets.
The net assets increased by $444,267 during 2012. The general fund increased by $309,494. The debt service fund went up by $5,726; and the water and sewer fund grew by $40,571.
“Net assets serve as one useful indicator of a government’s financial position,” the report states. “In the case of the city, the combined net assets exceeded liabilities by $7,129,454 and $6,685,187 at the close of FY 2012 and FY 2011, respectively. Unrestricted net assets — the part of net assets that can be used to finance day-to-day operations without constraints established by debt covenants, enabling legislation or other legal requirements was $2,218,117.”
The auditor reported the government funds of $1,777,202 and proprietary funds of $4,276,509 reported combined fund balance and net assets of $6,053,711, an increase of $355,791 from the previous year.
On capital assets, the report states, “The city’s investment in capital assets net of related debt reported in governmental activities and business-type activities was $1,267,956 and $3,969,839, respectively. This investment in capital assets includes land, buildings and improvements, equipment and vehicles. The change in the city’s net investment in capital assets for the current fiscal year was $65,996 and ($107,887) in each of the respective activities.”
At the end of the fiscal year, the city had $552,054 in outstanding bonds, a decrease of $80,455 or 14.5 percent from last year.
The report included a discussion of the city’s management and financial activities. The city continued its plan of resurfacing city streets during the past year and was faced with weather extremes ranging from hot and dry to cold and wet.
“These extreme conditions took a toll on both the streets previously resurfaced and on the streets that were to be resurfaced. The city continues to operate a preventative maintenance program throughout its collection system and its lift stations, which has added to the efficiency of the system.”
Other activities included the purchase of a used John Deere backhoe and a new Ford F-250 pickup for public works.
Plans for the current fiscal year included continued replacement of worn-out water meters with radio-read water meters.
The property on North Edwards Street is being fully utilized by public works, and the report states the city continues its effort to identify and correct drainage problems. Quinlan replaced several lift station pumps throughout the city.
“Although the city has made great strides in correction of many of its problems,” the report states, “the city still has areas of concern. The city must replace a police car and address inadequate drainage in several neighborhoods throughout the city. In addition, the city must replace aging and rusty waterlines in residential areas within the city. The city continues to perform the deferred maintenance of its water system, sewer collection system and its wastewater treatment plant.”
The audit report was accepted unanimously by the council.
Other business
• The council unanimously voted for resolutions recognizing the service of father and son, Richard White and Richey Whitehead, on the city council. Richard Whitehead served 18 years, and Richey Whitehead served seven. Resolutions expressed sincere appreciation for their “tireless efforts and unfailing commitment to the betterment of the community.”
• The spring cleanup days was declared for April 11-13.
• City Consultant Billy Green reported the city water tower was back in service after upgrades were complete. He said additional water meters had been changed out and replaced with radio-read meters. He said he hoped additional meters would be changed out in the future.
Green said he completed municipal judge training last week.
• Strickland reported Councilwoman Carole Petty was recovering from five-bypass heart surgery.
• Citizens comments included First United Methodist Church of Quinlan Pastor Eric Rothe. He said he had lived in many small towns while serving as a pastor. He said the city of Quinlan served the people well and extended his gratitude to the city.
A Windmill Addition resident complained about lack of ordinance enforcement in the addition including unsecured trash containers and curb parking. “Does Quinlan enforce any city ordinances?” she asked. “Where is our pride?” Chief of Police Johnny Thornburg addressed concerns during his report time. He said a directive was given in the speaker’s case to file a written complaint at city hall.
• Mayor Protem Brandon Frazier presided in the absence of Mayor R.W. Oliver.

 

 

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