Faith aldermen pleased with town's recent audit
By Steve Huffman
FAITH — Faith’s finances are in fine shape according to an audit supplied the town by a local CPA firm.
Members of the Board of Aldermen were presented the annual audit — performed by Sherrill & Smith CPAs — at their monthly meeting Tuesday. The report is for the fiscal year that ended June 30, 2006.
“The financial records of the town are currently in very good condition,” wrote R.W. Musselwhite, a CPA with Sherrill & Smith.
Town Clerk Karen Fink said the audit has been presented to state auditors who reviewed it and voiced no complaints. That’s something that’s relatively rare, she said.
Fink said state auditors typically find something from the audits to pick apart.
According to the audit report:
* Faith’s assets exceed its liabilities by $6.8 million.
* Faith’s unreserved fund balance for the General Fund was $161,115, or 35.72 percent of total general fund expenditures for the fiscal year.
* The town’s total debt decreased by $41,053 during the current fiscal year.
Board members said they were pleased with the audit and its finding that the town’s financial shape is good.
In other matters handled Tuesday, board members:
* Reappointed Scott Gardner as the town’s fire chief.
* Heard from Granite Quarry Public Safety Officer Dan Peters concerning the coverage that Granite Quarry police officers are providing Faith. The coverage started in October when Faith began contracting with Granite Quarry for such coverage.
“Things seem to be positive for both towns,” Peters said. “At least that’s what I’m hearing in Granite.”
* Peters announced that Todd Taylor has been appointed the police department’s new sergeant. “I feel that (Taylor) will be a great asset to our police department,” Peters said.
* Ended their meeting in a near-record time of 27 minutes. Officially, the meeting ended at 7:29 p.m., though board members pointed out it started two minutes late — at 7:02 p.m.
Despite the fast-paced nature of Tuesday’s meeting, board members said it still didn’t match their quickest-ever gathering, which ended in just 22 minutes.