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Town receives ‘clean audit’ from examiner’s office


Farragut’s Board of Mayor and Aldermen studied the Town’s fiscal year 2008 financial report at its meeting Thursday, Dec. 11.

Mark Lund, with William, Overholt and Beam, presented the findings of the study, basically a financial audit, to the Board.

“Again this year, we issued an unqualified opinion, which means, in our opinion, the financial statements are fairly and continually stated correctly,” Lund said.

“That is the most favorable opinion that can be issued,” he added.

Mayor W. Edward “Eddy” Ford III called attention to a certificate of achievement for excellence in financial reporting Farragut received from the Government Finance Officers Association.


Ford congratulated Town staff for its organization and excellence in maintaining financial records.

“We’re very proud to have received this certificate,” Ford said.

“This year, we are pleased to report we did not find any compliance or internal control issues that we needed to report to the Board,” Lund said.

He added Town staff had implemented changes William, Overholt and Beam had made in previous reports.

Lund also called the Board’s attention to an addition to this year’s report: a chart marking sales tax revenue in Town.

“That is the Town’s major source of revenue,” Lund said.

“It’s quite amazing the amount of sales that occur within the Town limits,” he added. Half the sales tax revenue funds Knox County Schools and half the Town.

“We got a clean audit. We handled our finances according to established procedures,” Ford said.

According to Ford, a copy of the financial report will be available at Town Hall, Farragut Branch Library and on the Town’s Web site, www.townoffarragut.org

“We certainly encourage you to view this document,” he said.

In other business, the Board:

• approved $10,000 donation checks to Farragut Primary, Intermediate, Middle and High schools, Hardin Valley Academy and Farragut West Knox Chamber of Commerce.

• approved, on first reading, ordinance 08-18, to amend the text of Farragut Zoning Ordinance to allow permanent display of general farm implements and lawn care equipment under a porch.

• approved, on second reading, ordinance 08-15, to rezone parcels 104 and 104.1 off Grigsby Chapel Road from O-1 and FPD (flood plain district) to O-1-3, OS-P and FPD.

• approved closing Town Hall Friday, Dec. 26.

• approved a new job description for the current Community Development Coordinator, to become Assistant Community Development Director, with a salary range of $48,000 to $60,000.

 

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