Badin Town Council receives annual audit
Published 4:59 pm Sunday, March 15, 2020
At Tuesday’s meeting of the Badin Town Council, the council was presented copies of the 2018-19 fiscal year audit.
Wil Huneycutt, of Wil Huneycutt, CPA, PLLC, presented the audit to the council.
Huneycutt said his opinion was an unmodified opinion, or clean opinion.
At the end of the fiscal year, the unassigned find balance was $73,127, which was 5.9 percent of total general fund expenditures.
Huneycutt said the number was unusually low, with the state recommending around 8 percent. However, the number is not low given the “abnormally high” given the project Badin undertook using Powell Bill funds.
“I think you’re OK because this was just an unusual year and that percentage was skewed because of it,” Huneycutt said.
Huneycutt also said the town’s total revenue $878,078, with total expenditures of $1,247,347, a net deficiency of $347,269. Most of the deficiency was made up for by Powell funds.
The town has $42,561 in uncollected property tax, including $13,056 this year.
Last year, total levy collection was at 94.8 percent, with the real property collection percentage at 93.94 percent.
In other actions, the council approved two festival permit applications from Better Badin, a volunteer community organization. One was for an outdoor festival and duck calling event Memorial Day weekend, while the other was for a Party on the Village Green to coincide with the Badin Lake Triathlon June 6.
In the board comments section, Councilman Gary Lowder mentioned the Badin powwow in October has grown to a two-day festival starting Oct. 23.