Hogansville receives positive financial report
The new council members took their seats Monday night in Hogansville, and their first order of business was listening to the audited financials.
Stephan Wilcox of Wilcox and Bivings presented to the council that overall Hogansville had a successful 18/19 fiscal year.
According to Wilcox, the city had $12.45 million total revenues and a change in net position with an increase of $3.83 million in its net position.
The Hogansville Downtown Development Authority assets showed a decrease in its net position.
“The DDA had assets of $38,000 and a net position of $38,000,” Wilcox said. “The DDA had a decrease in net position of $1,700 for the fiscal year.”
At the end of the fiscal year the utility enterprise fund had assets of $26.68 million per outflows of resources of $29,000, liabilities in $16.34 million, preferred inflows of resources $2.41 million and fund net position of 7.95 million.
“In conclusion, overall the city’s net position increased by $3.83 million,” Wilcox said. “The city had an increase in total revenues of $2.91 million and a decrease in total expenses of $334,000. It increased in revenues primarily due to increase in charges for services of $686,000 and capital grants and contributions of $2.1 million.”
Wilcox said that the decrease in expenses was due to decreases in governmental activities expenses of $187,000 and utility expenses of $147,000.
“The city had total capital assets of $27.9 million, and total long-term debt of $14 million,” Wilcox said. “The city’s long-term debt increased by $3.6 million during the year. The city had a combined overall increase in fund balance in its two major operating funds, the general fund and the utility fund of $2.8 million. In the prior year that combined had an overall increase of $290,000. It was a lot bigger increase, much bigger increase this year.”
Overall, the net position and fund balance of both general and utility funds increased for the fiscal year.
Wilcox said that the city has improved dramatically with its funds but will need to continue its progress to sufficiently manage its debt and operations.
“The city’s utility system is the largest source of revenue and cash flow,” Wilcox said. “Utility rates should be adjusted and reviewed annually to ensure that adequate revenue is generated to fund all costs the utility system, increasing the debt service requirements. Currently, the general fund is not generating enough taxes filing forfeiture and other revenue to fund
all of its operations and requires transfer from the utility fund to operate.”
Mayor Bill Stankiewicz contributed the overall financial success of the year to the hard decisions the council had to make throughout the year.
It was recently announced that City Manager David Milliron would be leaving his position in Hogansville for a new one in Kentucky. The council held the 1st reading of the creation of an assistant city manager position.
Also during Monday night’s meeting the following items were discussed:
-The second reading and passing of a zoning ordinance amendment to change the code on variances.
-A second reading and passing of a zoning ordinance amendment to change the code on manufactured and industrialized buildings.
-The second reading of a zoning ordinance amendment to change the code on temporary buildings, cargo containers, pods and accessory buildings. The council moved to send the ordinance back for further examination by the city manager.
-The first reading to amend the camera-ready ordinance to repeal and delete the permit fee section.
-A first reading of an amendment to the foreclosed and vacant property ordinance.
-The first reading to amend the dilapidated properties ordinance.
The Hogansville City Council will meet again on Jan. 21 at 7 p.m.
The next week figures to be an important one in the ongoing debate over a school tax exemption for senior... read more