By CHRIS AGEE
In accordance with the charter of Mineral Wells, a certified public accountant is required to audit the financial records of the city each year.
Daniel Hungerford of George, Morgan & Sneed PC, in Weatherford, presented council members with his agency’s audit of records for the fiscal year ending Sept. 30.
During Tuesday evening’s meeting, Hungerford said the city’s records presented municipal finances fairly and auditors did not find any discrepancies.
“The audit was a little more difficult since you didn’t have a financial director for a portion of the year,” he said, explaining John Moran was extremely helpful upon accepting the position earlier this year.
Getting into the numbers, Hungerford noted the city’s general fund saw a positive increase of about $127,000 contributing to a total unassigned fund balance of $4.135 million.
The water and sewer fund saw an increase nearly six times that of the general fund during the last fiscal year, he added.
With a total unrestricted balance of $5.817 million, Hungerford noted the water and sewer fund increased by $747,000 compared to the previous year.
He explained the airport fund, representing unrestricted net assets of $408,000, shrunk by about $119,000, making it the only fund to decrease during the period.
“A large portion of that is depreciation,” he noted. priate documentation, though he did mention some clerical oversights, likely attributable to the lack of a designated finance director.
“There were no deficiencies or weaknesses,” he said, and “no issues of noncompliance.”
Fee approved for debit/credit card bill pay
Mineral Wells Finance Director John Moran revisited the issue Tuesday of city staff charging citizens a surcharge when accepting bill payments by credit card.
He answered a question raised during a previous council meeting by indicated debit card users would also incur the 4-percent fee “because we run them through as credit.”