By Lee Weyhrich
PINSON — Pinson’s final city council meeting of 2015 ended on a high note thanks to an excellent financial report from the city’s independent auditing company.
Charlie Polmatier of the accounting firm of Borland Benefield declared that this year was another excellent one for the city both financially and operationally with absolutely no issues or errors to report. Among the positives covered by Polmatier include assets being $4.1 million in excess to the municipality’s liabilities. The general fund ended $91,000 in the black as well, Polmatier said.
The council did spend more than they took in in gas taxes. Spending exceeded income by roughly $83,000. This expenditure did not hurt the audit, because the council budgeted so frugally the last two years that years of excess funds were built up in the account. At last year’s independent audit reporting, Polmatier actually “begged” the council to spend some of that excess, he said. Even with the additional spending, the council is showing an account surplus of roughly $300,000.
The city has shown consistent growth and a 266 percent increase in revenue over the last six years, Polmatier said.
As for expenses, they have grown at a slightly lesser rate, even with all the new projects the council has taken on. Most of these projects are improvement projects which benefit the “asset” column for this administration and the residents of Pinson.
As an example, the bill schedule for this meeting totalled $117,339.32 with $76,321.29 of that expenditure going towards the park.
With the park project largely behind them, nexte year could look even better.