Carthage's annual financial audit came back clean and the accountant who led the audit had good things to say about the city's financial position and the city's staff and its work to keep Carthage's books and make the audit as easy as possible.
Rebecca Friedrich, a certified public accountant with KPM CPAs, PC, presented the audit to the city council's Finance and Personnel Committee earlier Tuesday afternoon then made a shorter presentation to the entire council Tuesday evening.
KPM CPAs, PC is the new name of Carthage's contract accounting firm after a merger with Davis, Lynn & Moots, PC took affect on Jan. 1.
Friedrich said the city's financial position is healthy and she gave what she called a “clean opinion, which is the best opinion you can get on your financial statement.”
Friedrich praised the work of City Clerk Lynn Campbell and her staff in keeping the city's books and in being organized and ready for the annual audit.
“Lynn and her staff do a really good job on the financial side of things,” Friedrich told the Finance and Personnel Committee. “We do very few journal entries here. We go to a lot of cities here and we do 40 or 50 journal entries and here we have about 10 which is not very many. City accounting, governmental accounting is not easy, there's a lot of different rules, and Lynn and her staff do a good job and everyone is always very professional during the audit and we really appreciate that.”
City Administrator Tom Short said the annual audit is the final step every year to close the books on a fiscal year.
This audit reported on the city's finances as of June 30, 2013, the last day of fiscal year 2013.
Short presented at Monday's Council Budget Ways and Means Committee the budget calendar for creating the fiscal year 2015 budget, a process that begins in earnest in January and ends with the adoption of the city's budget at the last city council meeting in June.
City department heads are working on their capital requests and must have them back to Short by the end of February.
All other budget requests are due in March in advance of a series of three intense meetings by the Budget Ways and Means Committee with department heads and the heads of agencies, like the Humane Society, Powers Museum, Public Library, Carthage Water & Electric Plant and others that receive city funds.
Those meetings are scheduled for April 21, 23 and 24.
The committee will perfect the budget in May and present it for consideration by the full Council at the June 10 and June 24 meetings.