City gets first look at audit

Published 12:39 am Wednesday, June 7, 2017

The Andalusia City Council on Tuesday had the first look at its audit for fiscal year ending September 2016, which had no findings.

Melissa Pierce of Rabren, Odom, Pierce and Hayes reviewed the audit and said:

  • The city increased its net worth in FYE 2016 by $1.2 million.
  • Spent $200,000 more in FYE 2016 than in FYE 2015, which is a less than 1 percent increase, and hless than inflation.
  • Absent restructuring its airport debt and adding $2 million in debt for its downtown projects, the city reduced long-term debt by $2.3 million, and is on track to retire approximately $8 million in long-term indebtedness in the current quadrennium.
  • The city is already realizing a return on its investment in downtown for Big Mike’s and the Clark Theatres.

Mayor Earl Johnson said the council will likely receive and approve the final version of its audit at its next meeting.