ST. FRANCISVILLE — The Board of Aldermen received a positive audit report for St. Francisville for the fiscal year ending Aug. 31, with Town Clerk Shannon Sturgeon receiving repeated praise for her work implementing accounting changes.
“Last year Shannon had just started, so we struggled through it (the audit),” Michael Leblanc, a certified public accountant with Postlethwaite & Netterville, which conducted the audit, told the panel. “Over the course of the year, she has done a remarkable job. There are some changes that still have to be made, but she’s been working with our office. … Shannon makes us all do our job like we should do it.”
Leblanc credited the town for implementing billing system changes and other suggestions by his firm.
Among the highlights of the audit:
The town’s total net position increased by $848,972 or 13.5 percent.
The general fund reported a $1.22 million fund balance.
The town has $6.11 million in capital assets.
Actual expenditures were approximately $79,400 less than final budgeted expenditures and actual revenues were approximately $104,000 more than final budget revenues.
“There’s not a lot of change from last year; it’s about the same, except the grants went down,” Leblanc said.
The water utility fund showed a loss of $34,308, and Leblanc suggested the city look at water rates over the next year and consider a possible increase.
“All in all, it’s a good financial report and it bodes well for the town. It’s about as good as it gets,” Leblanc said.
The board on Tuesday also unanimously voted for a resolution supporting two Louisiana Government Assistance Program grants that provide St. Francisville with a total of $70,000 for replacing fire hydrants.