Olla gets good budget report

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Library’s Christmas event

The Town of Olla’s FY 2017-2018 audit report review was a main topic of discussion at the December meeting of the Council last week. The findings and summary of the budget was presented to the Council by CPA John Vercher of the Vercher Group.

“All in all it is a good report,” Vercher said. “Your budget was within 5% and you have a 5% margin. Your governmental funds are better off this year than they were last year. Both the water and sewer funds are operating within their parameters. Everything looks good.”

In a written report, Vercher stated the General Fund had revenues of $958,343; expenditures of $926,895. The governmental funds had an increase in fund balance of $31,448, ending the year with a positive fund balance of $442,135.

 

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