JASPER, Ga. – Jasper saw the presentation of the 2018 Audit for both the City and Chamber during the June City Council meeting with reports for each.
Presented by Rushton and Company, CPA’s, the Audit held an unmodified opinion for the city, meaning Rushton did not have to change or alter anything with their opinion and the financial records.
Ending the year of 2018, Rushton’s presentation reported $530,252 of “Revenues over Expenditures.”
The report also noted the city could currently operate about one-third of the year on their fund balance. Council member Dr. Sonny Proctor questioned the fund balance asking if the city was in a “healthy” spot with that operational buffer in the fund balance. To which the city was told that many cities only have one to two months of operational balance, so Jasper would be better than many of those cities.
The report also presented an internal controls opinion. With no material weakness, the presentation did note a comment on a “significant deficiency” with regards to segregation of duties. While Rushton’s representative did say that he felt the two people handling the alchohol licenses were doing a great job, the standards would suggest three employees. He also noted that he didn’t expect the city to change this, but the note was put into the audit.
As the city gives money to the Picken’s County Chamber of Commerce, the city also heard an audit presentation for their funds in the Chamber. The report stated that Rushton and Company found the expenditures were properly spent and spent during the proper timeline.
The report did note that they found one note as the city noted no written policy on allocation percentages for joint costs. While they tested the funds and found the allocations reasonable, they simply thought that having a written policy could improve upon the area.