Rigby continues streak of good audit news
Auditor Sheri Poulsen, of Poulsen Jensen & Co, told the Rigby City Council March 2 that the city’s financial standing continues to grow.
“It’s miles and miles ahead of where it was years ago,” she said.
Ending cash balances for fiscal year 2015 to 2016 ended higher than the year prior, and revenues have gone up across the board. The city’s net assets went up $1.7 million to a total of $24 million.
The general fund ended with an ending cash balance of $1.2 million, up $358,000 from the year prior.
“It’s a really, really strong balance in the general fund,” Poulsen said.
The airport, library and parks departments similarly had good years, each ending with increased cash reserves.
“They all had good performances as well,” Poulsen said.
The city’s debt is around $9.5 million, with most of it owed to loans for the construction of the wastewater treatment plant.
Poulsen said the audit was clean, and the only weaknesses she saw were the same as she had seen for the last few years: separation of duties between the clerk and treasurer. In Rigby, both jobs are held by the same person.
“It’s a clean opinion, everything looked good,” Poulsen said.
Councilman Kirk Olsen was pleased with the report.
“Give us the same report next year,” he said.
“Good news,” said Council President Doug Burke.
Olsen added that Clerk Dave Swager deserves recognition for getting the city’s finances on track and handling the budgeting.
“I just think he needs an attaboy for what he’s doing,” he said.
“We appreciate all the things that Mr. Swager does,” Burke said.
Councilman Benson Taylor moved to accept the audit. Councilwoman Emily Thomas seconded and it was unanimously approved 5-0 with Councilman Richard Datwyler absent.