Century readies to accept audit
February 20, 2020
The Century Council heard a budget update from CPA Robert Hudson Monday night following an earlier audit review meeting he had held with Krista McAllister of Warren Averett in Pensacola.
Hudson said the town had a $21,218 excess of expense over revenue, due to a capital outlay of $28,684 for water pump clarifiers in January.
In the gas fund, Hudson said in January the total revenue was $47,008, and there was a $505 loss.
“We transferred $10,000 in from water fund as an operating transfer during January to defray that. “Without any transfer we just about break even,” said Hudson.
In the gas department, Hudson said the excess purchase over quantity sold for January was about a 24 percent loss, a little more than it was in the month of December.
In the garbage fund, Hudson said the town did not make any transfer from the garbage fund to the gas fund like they usually do at $5,000 per month. Hudson recommended the council authorize the mayor and clerk to sign representation letter to accept audit. The council will accept the actual audit at a later date. Hudson said this is a preliminary letter to toward final audit acceptance.
In other business, the council:
-approved an amendment to authorize an increase for the Capital Trust Agency's project Council Towers from $35 million to $38,450,000 for plumbing costs. The town will receive a fee of $15,600, up from $12,000 with the increase in borrowed money
-approved to adopt a 'memorandum of understanding' after listening to Adam Cobb on behalf of Escambia County Property Appraiser Chris Jones in reference to a potential homestead tax exemption audit for residents in Escambia County to go back up to 10 years and reassess that missed tax and collect interest and penalties in an effort to combat fraud
-approved the town apply for two different grants from the USDA to improve the town's Phase II wastewater system, which will cost $4 to $5 million
-approved the designation of $50,000 of Escambia County Reallocation Funds for the town's wastewater improvement program (reimbursement up to $50,000)
-approved a Schwing Bioset Screw Press pilot study for $5,000 for four days to test a piece of equipment, with a price of $400,000 to dewater solids in wastewater, to see how and if it would benefit the town prior to potential purchase in the future.