Photo by Mike Rosier/Publisher

Ms. Toni McKinley

A clean bill of health is always pleasant news.

Especially when it applies to city government finances.

The Town of Edgefield heard the results of the audit performed for the fiscal year ending June 30, 2008 and Council members were pleased with the results. Unreserved fund balance in the general fund was at $1,147,790, or 88% of reserves, a little over 8 months of the cost of running the town.

The town's revenues exceed its liabilities and the town is in great financial shape according to Mrs. Toni McKinley, with McKinley, Cooper and Company, presented the audit report to the town leaders Monday.

"It's a clean opinion again," Ms. McKinley said. "Overall, the results were better than expected."

Total revenues increased by $32,498 and expenditures decreased by $46,842 from the prior fiscal year. The town's general fund increased $16,172 during the current fiscal year.

Among the financial highlights of the audit total assets of the town exceeded liabilities by $3,336,384 of which $2,525,871 were unrestricted net assets that may be used to meet the town governmentÕs ongoing obligations to citizens and creditors. At the close of the current fiscal year the town's governmental funds reported a combined ending fund balances of $2,525,871, an increase if $122,456 and unreserved fund balance in the general fund was at $1,147,790.

Of the town's total assets, 24 percent are reflected in capital assets such as land, buildings, machinery, and equipment. The town's net assets decreased by $154,417 during the fiscal year as a result of a decrease in capital assets of $276,873 and an excess of revenues over expenditures of $122,456. Depreciation of capital assets was $362,341 and $85,468 in new assets resulting in the $276,873 negative total.

General and Administrative costs were projected at $137,056 and closed at an actual of $102,758, or $34,298 under budget. Town Council, legal and Judicial was budgeted at $49,347 with an actual cost of $43,371 netting a positive of $5,976 and a total positive of $40,274 under budget.

For the Police Department, total budgeted expenses were $460,399 and saw the actual costs at $461,954, or $1,555 over budget. For the Fire Department, total budgeted expenses were $85,302 with actual costs showing $108,035, or $22,733 over budget placing the Public Safety area a total of $24,288 over budget.

The Public Works Dept. budget was $293,917 with an actual cost of $297,634, or $3,717 over.
The Recreation Center was budgeted $54,500 and overspent that by $13,911 with total costs showing $68,411. In total, public works registered a total of $17,628 over budget.

Non-departmental items were budgeted $145,979 and spent $223,877 - or $77,898 over budget.
In all, total expenditures were budgeted at $1,226,500 with the actual expenditures costing $1,306,040, or $79,540 over budget.

Some of the big over-budget costs included Contributions (over budget $14,850), Christmas decorations (over $13,646), Heritage Festival (over $24,013), Shamrock Run (over $6,524) and Capital outlay (over by $33,612). Overall, however, budgeted revenues increased $103,712, leaving the town $16,172 in the black for the budgeted year.

Mayor Durham stated that the new Christmas tree cost was a little over $6,800 and the additional decorations and lights (not just for the new tree) accounted for the rest of the $13,646 overrun.

Mr. Durham said this was made up by the town not hiring a part time administrator saving the town $25,000.

In other Town business on Monday night, Mr. George Thornton, CEO of the National Wild Turkey Federation, was welcomed as the visitor of the month. Mr. Thornton said he and wife Beth were proud to be new citizens in the Town of Edgefield having moved here about five months ago after taking the CEO position in June.

Thornton said the NWTF finished its fiscal year in August and "we reduced our fund balance a little bit" but that measures were being taken to correct that in this fiscal year. Having just finished the first fiscal quarter of this year Mr. Thornton said they were ahead of budget and plan.

Revenues were down, as expected, due to the current financial situation across the county however the NWTF was still solid and moving forward. The Federation employs 170 at the Edgefield facility and an additional 115 across the country not counting "seasonal workers".

An interesting note was Mr. Thornton stating that it had just come to his attention that the NWTF was still listed as being incorporated in Virginia and that was being changed to reflect the national headquarters in Edgefield, SC. "That is underway as we speak."

Mrs. Sharon Fay and Miss Lynn Rearden, with Relay for Life, addressed the town council to make three requests. The first was the use of the Edgefield Gym on January 8, 2009 for their annual "Kick Off" fund-raising for Relay for Life. The request was approved.

A second request was to use the town's stage at the actual event in May at Strom Thurmond football stadium.

"The one we have really isn't much of a stage," Mrs. Fay said adding that the town's would be far more useful as they plan to feature cloggers, dancers, choirs, and other local entertainment during the event. The request was approved though Mayor Ken Durham asked that they give the town advance notice to be able to get it there on time.

The actual date for the Relay is to be announced at a later date.

A third request was to focus on this year's theme, "Show your hope" and Mrs. Fay requested that they be allowed to take pictures in front of the statue of Strom Thurmond on the town Square that would be used in pamphlets and other literature. The town granted permission.

Moving on to agenda items the town received the audit report which showed the town in great financial shape holding 88% of operating funds in reserve.

A resolution establishing an identity theft policy in compliance with recent federal and state legislation and regulation caught the attention of town attorney Greg Anderson and he asked for clarification as to why, if this was a policy that is to be adopted by the town why it included wording for financial institutions and lending institutions.

Clerk Charlotte Cheatham said is was taken from the Federal mandate to the state and in turn on the town.

"I just want to make sure we don't pass something we can't enforce," Mr. Anderson said. Mayor Durham said the matter could be tabled until Mr. Anderson had more time to review or rewrite the policy.

Mr. Anderson's concern was by including the additional wording of other entities out of the town's control it could place a possible liability on the town.

"If this is going to be just an internal policy I don't see why it can't be just a one page document."

With a little discussion the matter was tabled to give Mr. Anderson time to review the policy and make any changes he felt necessary.

The town council then moved on to give final reading to two ordinances, the first to change policy on the lance corporal position at the Police Department and the second on the new noise nuisance ordinance. Both passed with unanimous votes.

Edgefielddaily.com contributed to this report.