City of Mt. Vernon gets high marks in KPM CPA’s audit

By: 
Steve Chapman

Municipality betters financial position by $1.6 million over last year; officials discuss park improvements
 
The city of Mt. Vernon received an unmodified or “clean” audit according to a report delivered by Rebecca Baker of KPM CPAs during the board of aldermen meeting on Tuesday, April 26. An unmodified opinion is the highest rating possible in an audit.
According to the financial analysis of the city presented in the audit report, Mt. Vernon had a net position of $34,702,202 as of Dec. 31, 2021. That was an increase of about $1.6 million over the city’s net position of $33,163962 on Dec. 31, 2020.
The analysis also showed that the city had assets of $42,985,738 and liabilities of $7,552,513 as of Dec. 31, 2021. On Dec. 31, 2020, the city had assets of $41,298,146 and liabilities of $8,450,890.00.

In other business
City Administrator Joe Kelley told the board that McLiney and Co. offered the sale of the Capital Projects Series 2022 Certificate of Participation at an anticipated interest rate of 3.44-percent, not to exceed four-percent. Kelley also reported that the COP was purchased by Robert W. Baird and Co. out of Milwaukee, Wisc. with an interest rate of 3.56-percent. At Kelley’s request, the board approved paying the cost of an issuance payment of $134,252.25 and signing the needed documents.
Kelley also told the board that on Wednesday, April 13, members of the board, city staff and representatives of area sports groups and Olsson Engineering met to discuss the expansion and improvement of the park. Among the items discussed were: Final placement and size of fields, restroom/concession, roads, parking and trail system, ADA playground and storm water drainage. Kelley said that these items would be reviewed and evaluated as the plans for the improvements are finalized.
Additionally, Kelley recognized Roger Owens, public works supervisor, for 30 years of service.
 

Category:

Lawrence County Record

312 S. Hickory St.
Mt. Vernon, MO, 65712
www.lawrencecountyrecord.com

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