Granite Quarry receives clean audit
Published 12:00 am Thursday, November 7, 2019
GRANITE QUARRY — The town of Granite Quarry looks to be in good financial health, according to an audit conducted for the fiscal year ending June 30.
Eddie Carrick, whose Lexington firm has done the town’s audit for several years, gave the town a clean opinion. Carrick went over some of the audit’s highlights with the Board of Aldermen on Monday night.
Carrick said the town ended the fiscal year with a fund balance of $1.789 million, or 71% of the current year’s expenditures. This is a good number. The average fund balance in North Carolina for a municipality Granite Quarry’s size is 64%.
Granite Quarry showed an $331,000 increase in its fund balance during the year, according to the audit.
The town’s collection rate for property taxes was 98.86%, which is about 3% better than average, Carrick said.
Overall revenues for the town showed a $456,000 increase, while expenditures were up $193,000 compared to the 2017-18 fiscal year.
Mayor Pro Tem Jim LaFevers commended the town staff for keeping departmental expenditures under budget and the whole town under the approved budget.
In other business, the aldermen:
• Heard that decorated Christmas trees will be going up around Granite Lake from Dec. 1-6. From 3 to 5 p.m. Saturday, Dec. 7, the town will host Santa at the Park and a tree lighting at Granite Lake Park. The tree lighting will be at 5 p.m.
• Extended a moratorium on electronic gaming operations for 30 days while sorting out language in a zoning amendment that would cover where these types of businesses are allowed. The moratorium will now expire Jan. 2.
• Authorized the mayor to enter into a three-year agreement with Municode, which will help the town in the recodification of ordinances. The board approved $11,950 for recodification.
• Reached a consensus to support the Joint Police Authority’s purchase of a new patrol vehicle and equipment for $41,000.
• Agreed to sell as surplus a 1988 Chevrolet C2500 truck on a government surplus deals website. Maintenance Director Jason Hord originally proposed giving the truck to the town of Faith, but Mayor Bill Feather — backed by Aldermen Kim Cress and Jim Costantino — said it gave him a little heartburn to give something away that taxpayers paid for and probably still has value.
• Appointed Jared Mathis and Jamie Van Hoy to the Planning Board.
• Transferred $6,500 from the fund balance to pay for an emergency repair to a culvert in connection with the State Employees’ Credit Union construction site.
• Heard that 342 people attended the Granite Quarry Fun Fest on Oct. 19. LaFevers said 880 hot dogs were served.
• Learned that the town’s Revitalization Team will meet at 10 a.m. Nov. 20 to go over some design suggestions from landscape architect Lynn Raker for the intersection of U.S. 52 and Bank Street.
Contact Mark Wineka at 704-797-4263.