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Eden receives audit report

Eden receives audit report

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The Eden City Council heard its audit report for fiscal year 2013 to 2014 at its regular meeting in November.

Rouse, Rouse, Penn and Rouse delivered the audit information; as the business has years prior.

“The important part is, you have a clean opinion on your financials,” Judy Rouse, a certified public accountant with Rouse, Rouse, Penn and Rouse, said.

The total expenditures for the city in fiscal year 2013 to 2014 in the general fund amounted to $13,602,165. The total revenues for the general fund were $13,855,809.

The water and sewer fund was a huge topic of conversation during the audit report.

According to the report, the fund balance for water and sewer was $6,558,302.

“This year the water and sewer fund reimbursed the general fund for utilities they used in the amount of $1,190,039,” Rouse said.

This compares with $1,101,842 for the prior year.

The net assets in the water and sewer fund decreased by more than $700,000, and by approximately 1.58 percent.

The total assets decreased. The total assets include the entire water and sewer infrastructure, including all water and sewer lines in the city.

The assets went down from $58,042,268 to $57,743,354.

“As a city, I think you should be very pleased with that in how you held onto your fund balance unassigned,” Rouse said to the council. “I think you’ve done a good job with being conservative with fund balance.”

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