Franklin gets clean report from auditor
Franklin received a clean audit reported Tuesday during a special meeting of the city council.
Blaine Crochet, of Darnall, Sikes, Gardes and Frederick CPAs, presented the report.
Crochet pointed out that the general fund had a 3 percent increase in total revenues for fiscal year 2012-2013. Some of those increases included $87,000 in tax collections and intergovernmental revenues up $39,000, mostly federal grants.
Expenditures were down 28 percent from the previous year, Crochet said. “Other funding” decreased by $394,000 due to expenditures from the 2011 flooding event being off the books; recreation expenditures were down $124,000 in salaries, contracted services and supplies.
Utility fund revenues decreased by 6 percent, Crochet said, some $98,000, largely driven by a decrease in water sales. Expenses were up about 5 percent. He said depreciation increases factored into that increase.
The city’s total revenues across all funds was $8,795,228 and expenditures were $8,514,804.
The audit only revealed one issue where utility account balances were overstated due to billing errors but were corrected the following months.
Also Tuesday the council voted to add Mildred Street to its street overlay plan.