City of Devine receives clean audit

The City of Devine received an unmodified opinion for Fiscal Year 2018-2019 from accounting firm Coleman, Horton & Company, LLP.

An unmodified opinion is the highest that can be received.

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Stephen Horton delivered the news during the Regular Devine City Council meeting held last Thursday, April 23.

As of September 2019, the City had over $21 million in assets and over $15 million in liabilities, including over $11 million of long-term debt, leaving it in a positive net position of $6.7 million.

In the governmental fund, which includes the General Fund, revenues totaled $3.9 million. The bulk of that revenue came from taxes, including property tax, sales tax, and franchise tax.

Governmental fund expenditures totaled about $4.6 million, including over $1 million in the police department, and over $700,000 each in health and sanitation, the golf course, and administration.

The governmental fund finished in the red to the tune of about $650,000, though the fund balance remained around $1.5 million.

“Years past, the City’s always kind of broken even on this particular page,” Horton said. “But this past year, my recollection is that the golf course expenditures was a new endeavor, and [the City] had a lot of expenditures accounted for prior to the golf course operations for the year.”

The water and sewer fund brought in revenues over $2.3 million, with expenditures just north of $2 million, for an overall operating income of $271,000. Investment earnings of over $200,000 increased the fund’s net position to $483,000.

“The general fund, governmental funds, lost some ground this past year,” Horton said, “but your water/sewer still shows a positive, adding financial resources to your net position.”

Council voted unanimously to accept Horton’s report, as well as to retain Coleman, Horton & Company for the Fiscal Year 2019-2020 audit.

By Marly Davis

Staff Writer

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