Picayune receives clean audit

Published 7:00 am Friday, February 9, 2018

The city of Picayune received a favorable audit during Tuesday’s City Council meeting.

Julie Uher, of Holt and Associates, PLLC, said that the audit did not find any material weaknesses, leading her to issue an unmodified opinion. An unmodified opinion in regard to a financial audit means the audit was clean, no findings were reported and the city is financially stable.

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“You got a good staff and they’re doing a good job,” Uher said.

According to figures highlighted in the audit, the total net position of the city rose by less than $3.1 million, to total $26.2 million. That figure included an adjustment of more than $1.5 million, and amounted to a 10 percent increase from the previous fiscal year.

The city’s general revenues totaled $10.7 million, with program specific revenue, which includes revenue collected for city services, grants and contributions, totaling $7.3 million, the audit states.

During the same fiscal year, the city incurred $16.6 million in total expenses, of which $7.3 million was offset by program specific charges.

The fund balance by the end of that fiscal year increased by $290,342 bringing the combined fund balance to about $9.5 million, of which $2.1 million is restricted meaning it can only be spent on certain programs or for certain purposes.

During the fiscal year ending Sept. 30, 2017 the city collected $3.4 million in tax levies and $5.2 million in sales tax. During the fiscal year ending in Sept. 30, 2016 the city collected $3.2 million in tax levies and $5.6 million in sales tax.