TOWN OF CEDAR BLUFF RECEIVES POSITIVE AUDITS

Mike Sewell, the accountant performing Audits for 2020 and 2021 for the Town, met with the Council during the planning session Monday afternoon to go over the reports for 2020 and 2021. Overall the Audits were positive with some findings that need to be corrected. He said the 2020 report showed the Town actually spent $111,000 less than they had budgeted. This covers all accounts of the Town. He told the Council the 2021 report also indicated they had spent less than budgeted. Sewell informed the Council they had managed the Town’s debt very well with a total indebtness of $270,000. He reminded the Council about the State Bid law that requires bids on expenses approved by the Council above $15000. He also recommended the Council bring in another person to assist the current employees with the financial entries and preferred an accountant or someone with accounting experience. Sewell gave the Council a price for his firm to perform those duties and give the council quarterly updates on the Town’s financials. No action was taken on this matter during the Council Meeting.

The next Town Council Meeting is the first Monday in October with the planning session at 4:30 and Meeting at 5:30.