heraldindependent.com

Town received good preliminary audit report

By Lucas Vance lvance@civitasmedia.com

2 months 22 days 18 hours ago |13 Views | | | Email | Print

WINNSBORO — The Town of Winnsboro received an above satisfactory rating from Bill Hancock regarding its preliminary annual audit report.


During the recent council meeting, Hancock of Brittingham, Brown, Prince & Hancock stated his accounting firm did not find any instances of non compliance or significant deficiencies.


Overall the town has $381,000 of net assets, which is an increase from last year. The assets were combined from the utilities fund, general fund and community development fund.


The town took in over $15 million in revenue, but after paying its bills and the depreciation of capital assets was left with the $381,000. Hancock explained that the net asset amount was not significant in relation to the percentages brought in.


He congratulated the town and its staff with the accuracy of the annual budget.


“It appears that the town has taken care and diligence with its budget,” he complimented. “You’ve also exercised good discipline when it comes to spending.”


Hancock noted many small towns have had trouble calculating the fines due to the state. However, the Town of Winnsboro had no issues paying their fines. He said it has been a recent hot topic in the state treasurer’s office and more and more towns are getting into hot water over not paying their fines.


If a town is late, the treasurer’s office can suspend payments to the town including local option sales tax, accommodation tax and local government tax.


Hancock stated that all 12 fines were calculated correctly and paid on time.


“Everything went pretty smooth this year,” he said.


In new business, council approved the following capital expenditure requests:


Water plant: $4,000 for a replacement air scour blower, $2,500 for plant emergency light replacements and $20,000 for chlorine gas cylinder scales. Assistant water and wastewater supervisor Otis Williams requested that a portion of the funds approved the filter valve replacement ($53,000) be released to repair a large pump motor. The estimated price to repair is only $20,000. Town manager Don Wood said the town would be able to save a substantial amount since the total expenditure should not exceed the $53,000.


“We’re going to overhaul rather than replace so we can save a considerable amount of funds,” he stated.


Water, Sewer and Gas Department: $39,250 for a new backhoe. Wood noted the department is in dire need of a new backhoe, and suggested purchasing the highest bid because of the cost of service and less hours of use.


“We think overall it will give us better service than the other two,” he explained. The other two quotes were between $33,500 and $36,500.


Public Safety: Council accepted information concerning a $65,000 estimate to replace the roof of the public safety department, however did not take any action. Wood noted that the roof has been leaking and need to be replaced rather than patched. He confirmed that the project would be put out for bid.


Council took two votes after an executive session to discuss legal and contractual matters regarding water and sewer with Mid County Water, Fairfield County and Blythewood.


They voted to accept a resolution of the 1994 water service agreement with Mid County Water for a period of 60 days after its expiration on Feb. 15.


Secondly, council unanimously voted to award Wateree Construction Company with the contract to build the Blythewood pump station. The project will cost $374,000 and be split between the town and Fairfield County.

Comments

comments powered by Disqus

Weather

Sponsored By:

Local Gas Prices

Lowest Gas Prices in Winnsboro
Winnsboro Gas Prices provided by GasBuddy.com

Featured Business