By Tim Schmidt Record Managing Editor Warrenton remains in a strong position financially, auditors noted in a recent presentation. The city received an unqualified opinion from the auditing firm of …
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Record Managing EditorWarrenton remains in a strong position financially, auditors noted in a recent presentation.The city received an unqualified opinion from the auditing firm of Botz, Deal and Co., P.C., meaning all of its financial statements were presented fairly.The financial audit covered the fiscal year beginning July 1, 2014, and ending June 30, 2015.The assets of the city exceeded its liabilities by $30,201,586, according to the audit report. Of that amount, $7,313,280 represents the unrestricted net position and may be used to meet the city’s obligations to citizens and creditors. The city’s total net position increased by $1,161,183 for operations.At the end of the fiscal year, the city’s governmental activities ended with a net position of $16,285,049, an increase of $816,640 in comparison to the prior year. Approximately $3,441,922, or 21.1 percent, is available for spending at the discretion of the city.“You have a really great staff here,” said Allen Schulte, representing the auditing firm, at the Nov. 17 board of aldermen meeting. “All of the records were in great shape. It’s probably one of my better audits.”He later added, “The records are in great shape. It is definitely one of the cleanest audits I go on every year.”Other financial highlights were:• Sales tax revenue increased by $128,000, or 5.1 percent, compared to the previous fiscal year.• The most significant governmental expense was the police and court function, which incurred expenses of $1,749,441, an increase of $135,331 from the prior year. The jump was attributed to the police department being fully staffed. Also, expenses for the street department increased $266,213, from $633,563 to $899,776, because some projects did not meet the threshold for capitalization, Schulte said.• The city retired $391,515 in debt for general activities and $585,000 related to water and sewer functions.In other news• The board tabled action on a proposal to purchase signs honoring the state champion Warrenton softball team. The signs would be erected on the city limit signs on eastbound and westbound Interstate 70. The cost is $2,000. Some concerns were raised that the signs are too far from the city’s interchange and are hard to read while traveling the speed limit.Aldermen decided to hold off on a decision until reviewing proposals for a new city sign to be constructed on property located west of Denny’s. The property, at 428 W. Veterans Memorial Parkway, was donated to the city in August by GE Capital, of Scottsdale, Ariz.• No action was taken on a request made by two residents, Mike Shilharvey and John Clinger, asking the city to close a portion of South East Street between Meyer and Morsey Avenue. Both residents own property adjacent to the undeveloped street.More information will be gathered by city staff and the proposal will be reviewed in the future.• Anna Taylor was appointed to the Park Board for a three-year term, while Tonya Mirth and Nancy Shilharvey will serve two-year terms. The appointments were approved by a 5-0 vote. Ward 2 Alderman Damion Frederick was absent.• The city will purchase two vehicles for the police department — a 2016 Ford Sedan and 2016 Ford Utility — for $71,560.14 from Joe Machens Ford. The price includes both vehicles being outfitted with lights, radar gun, mobile radio and in-car camera. The city had budgeted $73,600 for the vehicles.• An ordinance annexing 1.3 acres at 71778 South Highway 47 was adopted by a 5-0 vote. The property was purchased by the city in October and will be part of a larger parcel to be developed as a park.• The city will spend $3,080.93 for range improvements, which is lower than the budgeted amount of $3,300. The project includes $599.98 for two folding tables from Lifetime, $1,749.95 for a steel carport shelter from Sheds for Less and $731 for concrete work.Warrenton