Matt Wood of Alexander, Thompson, and Arnold , PLLC presented a report on the City’s Fiscal Year 20 Audit. Its results presented encouraging results for the City’s approach to greater financial responsibility.
The City displayed a better net position than it had in recent years while also demonstrating attention to prior audit findings and addressing them effectively.
Tennessee state law requires an annual audit and federal law requires an annual compliance audit for governments with federal funded expenditures in excess of $750,000. The city had $4.91 million in federal grant expenditures in fiscal year 2020.
The purpose of the audit is to provide assurance that management has presented a “true and fair view,” to enhance the degree of confidence in the financial statements and to identify areas where management can improve their controls or processes.
“We had to make some tough choices in 2020 not knowing what to expect with the pandemic,” said Mayor Scott Conger, “Despite the uncertainty, our finance department was able to make significant strides toward reducing the city’s overall debt and expenditures.”
Overall, for fiscal year 2020 the city was able to reduce debt by $11.8 million, operate $4.6 million under budget and add $2.7 million to the general fund.
- An ordinance to close and barricade the alley between the Miss Ollie’s building, which had previously been used for inmate transport to the old City Court location, passed upon first reading.
It was voted to be tabled during last month’s meeting so that City Planning would be able to address concerns by a property owner whose access to a garage and apartment entrance off of the alley wouldn’t be denied by proposed bollards.
The plan is to now barricade the alley on the E. College Street side and revisit any future obstacles.
- A proposed amendment for the FY 21 Budget to acquire 31 new Jackson Police Department patrol vehicles at an amount not to exceed $2,000,000 was tabled. This is to give members of JPD leadership presenting the plan an opportunity to work with the Budget Committee during their next meeting, scheduled for February 11.
The hope is this will allow a chance for both parties to better vet the proposed purchasing agreement so that new police vehicles can be purchased in the most efficient manner possible. The Council expressed a desire to call a special meeting to revisit a first vote once the Budget Committee has had time to better explore the agreement. The motion to table the vote passed 5-4.
- A budget amendment passed on first reading to deploy CARES Act money recently received for reimbursing the Christmas bonus given to all employees plus fund new software updgrades for the IT Department, Building Department and Jackson Fire Department. The Building Department’s new software will allow for permits to be applied for and received online rather than entirely in person.
(PHOTO: Jackson City Council met virtually, Tuesday)
