Despite getting financial records to their auditor late, the town of Roseboro attests they are aware of the importance of getting such information prepared and available in a timely manner.
During the last board meeting held July 14, town clerk and financial officer Tony Blalock presented a letter to the board of commissioners from officials at the Local Government Commission. According to Blalock, the town is aware of the LGC’s concerns and is working to address the problems presented by the government agency.
According to the letter from the LGC, after analyzing the financial statements of the town of Roseboro for the fiscal year ended June 30, 2014, the results left some areas of concern.
“The results of the analysis revealed some areas of concern regarding the town’s financial position and operations,” the letter states. “The purpose of this letter is to convey those concerns to you and the board.” The letter was addressed to mayor David Alexander.
Blalock, on behalf of the town, prepared a statement that was sent to the LGC addressing the concerns.
According to the letter written by officials with the LGC, the town’s audited financial statements were not received by the LGC office until March 20, 2015, five months after the due date in October. According to Blalock, the town submitted their financial statements to their auditor, who was unable to get the information complete in a timely manner, therefore leaving the town looking for another auditor. This, Blalock said, contributed in delaying the process.
“With regards to the late scheduling and completion of the annual audit: the Board of Commissioners and current Town staff recognize the need to have the financial records prepared and available such that the annual audit can be performed in a timely manner,” the town’s letter to the LGC stated.
The town, according to the letter, is better equipped to gather all pertinent information in a timely manner.
“It is our considered opinion that town financial records are better maintained now than during the past few years, which will allow us to remove this deficiency,” the town’s letter reads. “We believe that staff currently in place is better trained and in a better position to provide accurate records to the auditor.”
According to the town’s letter, the town is on track to have the outside auditor, Andrew Harris, begin his audit of the town’s financial records during the last week of this month.
The LGC’s letter also addressed that certain expenditures exceeded the amounts authorized by the budget ordinance, indicating that the town’s pre-audit function is not working properly.
To that, Blalock says the town analyzes line items and departmental totals in the accounting system as invoices are process, making sure that funds are available to pay the respective invoices before they are entered as payables.
“During May and June (2015), numerous line item budget amendments have been made to keep line items from having a negative balance,” the town’s letter states. “During June 2015, all necessary budget amendments were made so that no departmental expenditure total has a negative balance.”
Blalock said he has talked with the official from LGC, Sharon Edmundson, in person and the town will have a follow-up conference with her on Friday.
“I talked with her about the progress the town has made since the audit was complete,” Blalock said.
Blalock and town officials say they are working hard to meet the reporting and filing obligations set forth by the LGC.
Reach Kristy D. Carter at 910-592-8137, ext. 2588. Follow us on Twitter at @SampsonInd. Like us on Facebook.