The Kinder Council received positive feedback as its audit report, for fiscal year 2021/2022, was reviewed by Royce T. Scimemi, CPA, APAC, at its meeting on Monday, November 14.
In his highlights, Scimemi pointed out the town’s assets exceeded its liabilities by $10,828,818 (net position) for the fiscal year reported. Total revenues of $5,148,857 exceeded total expenses of $4,644,251, which resulted in a current year surplus of $504,606. In comparison, for the previous year ended June 30, 2021, the town’s total revenues of $6,512,302 exceeded total expenses of $6,430,290, yielding a surplus of $82,012.
“Overall, the town’s financial position improved in the current year, and the town continues to maintain a strong financial position. It is continuing to work to improve on this financial position,” he said. (A copy is on file at city hall for those wishing to learn more.) He explained the town was doing well, but in the future would have to address utilities.
In findings, Scimemi pointed out budgeted revenues in the sales tax fund were in excess of the actual revenues by five percent or more. He said this was done before investment losses were recorded and easily fixed.
City Clerk Traci Fontenot said there would be a utility rate study done for the town at no cost. That study would provide the town’s leaders with more information of how to proceed in the area of its utilities.
The budget was approved and hiring Scimemi to perform the next fiscal audit was added to the agenda and approved.
The council held a public hearing and then approved adopting Ordinance No. 875 to define wording for those seeking a liquor license in the town if they classified as “permanent residents or U.S. citizenship.” Councilwoman Latoya Tunwar was the only nay vote given.
In other business, the town approved personnel changes for the chief of police and authorized the mayor to work with the town engineer on the development of the LCDBG (Louisiana Community Development Bock Grant) ,grant application.
