The Wright City Board of Aldermen received a clean opinion for the city in its most recent audit report for 2024 Thursday evening.
CPA Marshall Decker with Decker & Pace LLC went over the audit report his firm prepared during the board’s regularly scheduled meeting Oct. 9.
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The Wright City Board of Aldermen received a clean opinion for the city in its most recent audit report for 2024 Thursday evening.
CPA Marshall Decker with Decker & Pace LLC went over the audit report his firm prepared during the board’s regularly scheduled meeting Oct. 9.
Decker told the board that their cash position was “great,” noting that six months of expenditures is generally where you want to be and with cash and investments the city effectively has a year of expenditures available if necessary.
In giving his report he noted there were only a few “hiccups” that he explained in more detail after being questioned by Alderman Ramiz Hakim.
Decker said there were some issues with some accounts that should have balanced out to zero, but noted that he has seen this issue before and it is generally a software related issue. He suggested perhaps utilizing Quickbooks to help with this issue and also suggested the city seek assistance from Tina Lomax, who Decker identified as the city clerk for Warsaw, Mo., who he said is skilled at fixing these types of issues.
Hakim noted that he has been on the board for six years and has heard of a similar issue the last six years in the city.
Hakim then asked about the city’s ARPA revenues and wanted to know the timeframe for spending those funds. Decker noted that the city’s funds must be spent by the end of 2026.
Hakim also asked about whether there are stronger investments for the city to consider as last year the city made approximately $173,000 in investment income last year. Decker responded that most towns are utilizing CDs and money market accounts and he recommended keeping investments as short-term investments and getting the best rate the city can.
Alderman Karey Owens asked a question about the city moving revenue received in January and February 2025 back to December 2024 to reflect it being a part of the 2024 tax revenue and whether that would affect their accounting in any way.
Decker said total revenue is about the same so that it wouldn’t make much difference in the overall books of the city.
