Tonight there is a city commission meeting at 6pm to discuss and approve the 2012 Audit by our external auditor, TCBA Watson Rice LLP. The firm began the audit in January. Also on the Agenda is the Comprehensive Annual Financial Report.
The commission will also hear from the Finance Department and will discuss fund levels as well as make a Resolution to write down the accounts receivable allowance for uncollectible accounts in the amount of $4.579 million. The reason for this Resolution is the inability of the City to collect these accounts receivable. The city is not waving any of its rights for collection.
It was also stated that the general fund revenues exceeded expenses by $1,451,771 with a positive fund balance of $3.8 million.
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