By Ryan Storz
A report from accounting firm Verkamp & Malone has determined that Bourbon had a “clean” audit and that financial statements were “healthy” for the fiscal year ending June 30, 2009.
Molly Malone presented the findings to the Board of Aldermen at the July 20 meeting.
The only items she recommended fixing were having board minutes turned in on a more timely manner and having those minutes signed by the mayor. In her report, she said the minutes are not authentic unless they have been signed.
Other findings from the report:
-The City of Bourbon broke even in 2009, which was “unusual,” because most cities had a loss that year. Bourbon stands out, according to the report.
-The largest portion of the city’s net assets is reflected in the city’s investments in capital assets (land, buildings, improvements other than buildings, infrastructure).
-The combined fund balances of the city’s governmental funds increased by $56,220 for FY2009. The increase is attributed to a significant decrease in capital expenditures during that fiscal year.