The Salem City Council received its annual audit report at Monday night’s meeting.
Curtis Stoll of Fick, Eggemeyer, and Williamson CPA, PC had all good news.
“Overall across all funds citywide their was an increase in cash for the year.”
Stoll says tests indicated no issues in the fund expenditures giving the city the highest audit score possible.
After the meeting, City Finance Director Keli Roth said the city had seen a $1-million increase in its utility and business funds. Most of the increase is the result of money accumulating from the half-cent sales tax that will be used for future public works projects. Roth reported the city’s water and sewer funds also saw an increased fund balance, but she is still recommending the city adopting a two to three percent yearly increase to avoid the large increase the city faced two years ago when not keeping up with inflation. She reported a small increase in sales and income taxes was also seen in the general fund.
The council also approved a resolution to allow the Little Egypt Festival to seek closure of North Broadway and West Main for this year’s parade scheduled for two pm on Saturday, October 7th.
A closed session was held to discuss potential sale of real estate, but no action was taken.
