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Council hears audit report, approves zoning changes

by | May 12, 2022 | Latest

Two city employees were thanked by Mayor Brianna Chacon and recognized for their service to Princeton.

Public Works Director Tommy Mapp and City Secretary Amber Anderson both got a moment in the spotlight during the regular council meeting Monday, May 9.

Chacon read two proclamations: one that recognized May 16-22 as National Public Works Week and the other pointing out May 1-7 as Municipal Clerks Week.

Both Mapp and Anderson had a photo opportunity with Chacon.

The agenda also had an item to recognize Saturday, May 14, as VFW Day to honor the 75th anniversary of VFW Post 9167 but nobody from the post was at the meeting to accept the proclamation.

During the meeting, council pulled the comprehensive financial report from the consent agenda and received a presentation from Louis Breedlove, senior audit manager at BrooksWatson & Co.

Breedlove said he was giving an unmodified, or “clean,” opinion which he said is the highest level of assurance an entity can receive on a financial audit. It covered the previous fiscal year which ended September 30, 2021.

This was the first year Breedlove had conducted the city’s audit, he said, adding there were a few things the audit team needed to adjust to. Breedlove said the overall timing of the final presentation was slightly behind schedule but the overall audit went well.

According to the auditor’s presentation, the city’s general fund balance was slightly over $9 million. 

The city has a policy to try and maintain an unassigned fund balance in the general fund for 90 days or 25% of its overall expenses. Breedlove said Princeton’s unassigned fund balance was 54% in the prior fiscal year.

Princeton’s primary government balance, which excludes the funds held by the Economic Development Corporation (EDC) and Community Development Corporation, was $148 million, said Breedlove. That was an increase of $30 million from the fiscal year that ended in September 2020.

For the full story, see the May 12 issue of The Princeton Herald.

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