FAIRHOPE, Ala. — The Fairhope City Council approved the city’s annual financial audit Monday night for the fiscal year ending Sept. 20, 2007.
The 84-page report was longer this year because additional information was provided in hopes of …
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FAIRHOPE, Ala. — The Fairhope City Council approved the city’s annual financial audit Monday night for the fiscal year ending Sept. 20, 2007.
The 84-page report was longer this year because additional information was provided in hopes of obtaining a “certificate for financial reporting achievement” from a national association of governmental financial officers, City Treasurer Nancy Wilson said.
“It will be a recognition that we have gone above and beyond the regular reporting requirements,” she said. “We did a lot of additional research, including demographic and historical research, for the report.”
It is not known when the city will learn if it has been given the certificate.
She said the new information in the report will help a reader better understand the city’s financial condition comparatively to other cities of a similar size.
Wilson said the city’s financial reporting and condition received an “unqualified opinion” from the auditing firm, the highest opinion according to applicable accounting standards.
The Comprehensive Annual Financial Report was presented by Dennis Sherrin of the Fairhope accounting firm that did the audit, Hartmann, Blackmon & Kilgore.
“I will say things are thin,” Sherrin said. “The city’s always tended to operate on a tight budget, and it continues that way.”
Sherrin said the document was based on information provided by the city, and he praised the work of the city financial staff, who assembled the information.
“This financial report is designed to provide citizens, taxpayers, customers, investors and creditors with a general overview of the city’s finances and to show the city’s accountability for the money it receives,” the report states. “If you have questions about this report or need any additional financial information, please contact the City Treasurer or Financial Reporting Manager, at 161 N. Section St., Fairhope, Ala.”
A copy of the report is or will soon be available at the Fairhope Public Library. Further analysis of the new audit will be reported in a subsequent edition of the Fairhope Courier.
In other business, the City Council:
• Adopted an ordinance establishing a new building, mechanical, plumbing, fuel and gas, fire and electric codes system for the city, bringing it in line, officials said, with what others in the county have already done;
• Adopted an ordinance establishing a Fairhope Museum Advisory Board. The initial board is expected to be appointed at the next council meeting;
• Approved a number of bids for construction for the new Fairhope Recreation Center, including for electrical, concrete, metal building and structural steel, plumbing, site work and related jobs.