City Receives Good Audit Report

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At a recent special meeting, the Greenville City Council received a good audit report, from the firm of Scheffel & Boyd, covering the fiscal year that ended April 30.

It was reported the governmental funds, which includes the general fund, had a change in net position of a positive $365,459. The governmental fund balance had an increase of $229,323 while the general fund itself operated in the red by $110,086, which was mostly the result of capital expenditures being higher than anticipated in the street program.

The water fund posted revenues of $201,320 and the sewer fund had revenues over expenses by $347,750.

Auditor Lisa Bohnenstiehl reported the city’s debt limit is nearly $5.7 million. The only debt payment on the books, going into the new fiscal year, was for the public works building and city officials advised that has now been paid off.

Auditors Bohnenstiehl and Mark Korte commented about the city’s financial situation. Bohnenstiehl said cash reserves continue to grow and expenses are managed very well. She said considering other municipalities that they audit, the City of Greenville is among the top.

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The auditing firm advised the city has 7.3 months of cash reserves in its general fund, 51 months in the water fund, and almost two years in the sewer fund.

The general fund entered the new fiscal year with a balance of a little over $2.9 million.

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