Daily Progress, Jacksonville, TX


March 13, 2014

Auditor: Jacksonville reported ‘healthy amount’ of funds for fiscal year

JACKSONVILLE — The City of Jacksonville was lauded Tuesday night during a City Council meeting for its financial status as of the end of the past fiscal year.

Tal Glenn of Henry & Peters, PC  gave an overview of the city's audit report for the September 2012 to September 2013 period.

He highlighted several fund balances, but the one figure that hung in the air was $1,000,425.

“It's a very healthy amount, especially for a small city like Jacksonville,” Glenn told those gathered at the meeting.

Jacksonville's financial director Freddy Thomas said the revenue after total expenses was due mainly to “less money was spent than was appropriated, or budgeted.”

The city also reported government-wide assets of $1,085,485; a general fund balance of $3,357,611 as of the end of the fiscal year on Sept. 30, 2013. Thomas said the general fund balance was a $275,405 increase over the past fiscal year.

Net assets for the proprietary funds (water, wastewater and sanitation) increased $158,764 at the end of the fiscal year.

“We had a very good year,” City Manager Mo Raissi said. “We're on the right track with tax dollars, and department heads did a great job holding the line on what they needed.”

The city was given a “clean opinion" in the audit, with exception to a procedural concern with small purchases.

“It was just for small purchases that need to be done in a hurry and procedures are not followed. We didn't note anything wrong, just in the policy and procedure. Nothing occurred bad because of this,” Glenn added.

Thomas also said the city had $9,470,000 in general obligation bonds outstanding during the 2012-2013 fiscal year, a $855,000 decrease from the previous fiscal year.

“The City of Jacksonville. Cash reserves have been improved to an acceptable level, and long-term debt is on an aggressive payout schedule,” Thomas said.

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