City gets clean audit report

The City of Gladewater’s auditor recently gave council members kudos for their healthy fund balances and efficient bookkeeping.
Albert Garcia of Mays & Associates attended the council’s June 15 gathering to lay out the basics of the audit for Fiscal Year 2021-2022.
“We will be issuing an unmodified report,” Garcia noted, “which is a clean report.
“You guys have a good balance sheet.”
Walking the council through the key elements of the audit, Garcia noted the city’s $3.8 million fund balance in the General Fund. That’s an increase of $220,000 over the prior year.
“We like to see increases,” he said.
Meanwhile, $825,000 in debt service has been reduced to $77,000.
“Not only being good stewards,” Garcia added, “but also paying off some debt. We like to see that.”
In the Water/Sewer Activity Fund, Garcia noted the city has a net position of $7.2 million, a $400,000 increase.
“Overall, the city has increased fund balances and is looking good.”
The council unanimously accepted Mays & Associates’ update, a 6-0 vote (with one member absent).
“We do look forward to a favorable report,” Mayor Scott Owens said.

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