The town received an unqualified opinion from the independent firm. In auditing practices, an unqualified opinion represents the best possible opinion given.
The report reflected the town’s change in financial position for the year ended in conformity with accounting principles generally accepted in the United States.
Sanders highlighted several positives for the town of 2,446, which incorporated in 2002.
“Munford has one of the finest schools in Talladega County, consisting of kindergarten through 12th grade,” Sanders said. “There are many churches of various denominations in the area. The town of Munford is one of the fastest-growing communities in the state of Alabama. Munford includes plenty of land suitable for both residential and commercial development.”
According to Sanders, the town’s total revenue experienced a 16.9 percent decrease compared to 2012 due to a lack of donations.
“During fiscal year 2012, the city of Oxford donated a fire truck to the town and various other assets from military surplus were donated to the town,” Sanders said. “Fiscal year 2013 only received assets donated (equal) to $8,200, a police car from Talladega County. Also, the tax experienced a decrease in local sales tax from $273,338 in fiscal year 2012 to $248,240 in fiscal year 2013.”
The report also showed a decrease in the town’s general fund of approximately $101,871.
“The primary factor for this decrease was attributed to an increase in police expenditures and parks and recreation,” Sanders said.
Sanders also brought a couple of significant deficiencies to the attention of town officials in the report regarding a possible conflict of interest and accounting accuracy issue due to the addition of new departments.
Place 4 Councilman Lee Garrison noted the council will continue to work to correct the deficiencies noted in the report by Sanders.
“We’re going to try to hash it out during our work session and go over this thing thoroughly all the way through,” Garrison said. “We’ll be giving Sanders a call to see what we need to do to make sure we get everything straightened out. We’re small and we’re only in our 11th year. We’re still learning a little bit, but she’s been a big help to us.”
The work session will be held Feb. 18 at the Munford Town Hall.
Contact Shane Dunaway at email@example.com.