Board Hears Audit Report
The Pineville Board of Aldermen, at its meeting on Tuesday, heard a report on its 2019 audit from Nick Myers.
Myers went over the highlights of the audit. Among the items he noted was the fact that the city’s assets exceed its liabilities by $8 million. In the water and sewer department, total assets are $4.5 million, and total liabilities are $1.25 million, with a difference of $3.2 million.
However, Myers said the city is “barely breaking even on operating cash” in the water and sewer department. Mayor Gregg Sweeten said following the meeting that the city has to transfer money from the general fund to water and sewer. He said this has been going on for a long time, longer than he has been mayor. He also added the city may have to consider a rate increase at some point.
Myers also reported that he considered control and compliance and did not see any material weaknesses. He recommended segregation of duties wherever the city can afford it to keep errors in accounting down.
Also on Tuesday, the board opened bids for the next three years of audit reporting. Taylor Green PC bid $11,000 for 2020; $11,500 for 2021 and $12,000 for 2022. He bid $3,000 for each year if a single additional audit is required. Nick Myers bid $12,500 to $14,000 for 2020; $12,875 to $14,420 for 2021 and $13,265 to $14,855 for 2022. For a single additional audit, he bid $7,000 for 2020; $7,250 for 2021 and $7,500 for 2022.
The board approved the bid from Taylor Green PC.
Sweeten recognized the second and third place winners of the Christmas light decorating contest. The first- place winners, Michala and Coby Hughes, were unable to attend. Second place winner Angela Cawood, representing herself and Randall Pate, and thirdplace winner Diane Cooper, received certificates.
In other business, the board:
• Approved the budget for fiscal year 2021.
• Paid bills in the amount of $84,510.