Pelham earns positive audit report
PELHAM – The city of Pelham earned praise from a Birmingham-based public accounting firm for finishing the 2016 fiscal year in good financial shape at a City Council meeting on Monday, June 19.
During the meeting, the council voted to accept the 2016 audit from Barfield, Murphy, Shank and Smith LLC. The audit examined the city’s finances from Oct. 1, 2015, through the end of September 2016.
The city is required by law to have an external independent audit performed after each fiscal year. During the audit, company representatives worked with city Finance Director Tom Seale and other city leaders to gather the necessary information to conduct the audit.
A representative from Barfield, Murphy, Shank and Smith LLC said the city earned an unmodified opinion, which is the highest rating possible and means the city’s financials are materially accurate.
According to the report, “general fund revenues exceeded budget by $3,078,024, largely due to greater than anticipated sales tax revenue.”
The report also states that general fund expenditures were less than budgeted amounts by $2,881,946, largely due to a decrease in spending on operations to provide funding for capital outlay.
According to the report, the city’s combined assets exceeded its combined liabilities by $81,308,485, which will allow the city to continue to meet ongoing obligations to citizens and creditors.
In other business, the council:
-Approved an ABC license application for Cajun Boys and Our Po Boys, 3120 Shelby County 52 West.
-Declared items within the Pelham Fire Department as surplus personal property and authorized the items to be sold.
-Accepted a $361,904 bid from Centerline Contracting Inc. for the water main improvement project on Industrial Park Drive.
-Accepted the dedication of certain public streets and right-of-ways in the city of Pelham.
-Approved a $4,600 construction change order for the Pelham Recreation Center.
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