Pinson receives ‘good’ audit report
By Lee Weyhrich
PINSON — The results of the city of Pinson’s annual audit are in, and once again the news is good.
While expenses are up with all of the Pinson City Council’s new projects, so too is revenue. CPA Charles Polmatier, of Borland Benefield, presented the audit at the Dec. 19 council meeting.
“You are in a good financial position, just like last year,” Polmatier said. “You improved it.”
As of June, the city was showing close to $1.3 million in unrestricted funds, enough to run the city for an entire year without new income. Polmatier described that as “very strong” compared to other cities.
“It is very evident the concern in oversight that you have with the city in its finances,” he said.
Revenues have increased and there were no declines anywhere, nor were there any material weaknesses or deficiencies, Polmatier said. The city of Pinson had projected revenues of more than $1.6 million. In actuality the revenues were higher by $247,647.
“Much of our revenue, we don’t know what it is going to be until we open up those envelopes,” Mayor Hoyt Sanders said.
Budgeting for revenue is based primarily on previous checks, Sanders added.
Several general fund expenditures went over budget, and some by quite a lot.
Probate was budgeted for $3,000, but went over budget by $16,057. Dues subscription and training topped $13,557 more than the projected $18,000 budget. Legal expenses were more than twice their $50,000 budget, going over the line by $56,624. Building and grounds expenses were budgeted at $35,000 and exceeded that number by $55,349. Payroll went $32,299 over budget. Capital expenditures ended up being $125,871 over their $160,000 budget. Other overages combined amounted to $52,114.
Many of these overages were due to new projects and other city improvements, and although they went over their line-item budget, they were still well within the overall city budget.
For example, road expenses account for $30,053 of that $52,114, but as Councilman Joe Cochran explained, money might be saved up for years for road projects unused. A new project might deplete the budgeted funds in a short amount of time without hurting the bottom line.
Many expenditures came in well under budget. The Pinson Public Library, for example, was expected to need $170,000, but managed to stay $21,704 under budget. Special appropriations came in $94,410 under the $215,000 projected. Other items under budget totaled $7,789.
There was $333,999 in surplus in the general fund for the year.