by AnnGardner Eubank
KILMARNOCK—The Kilmarnock Town Council and staff received a clean bill of health from its annual financial audit and report according to a presentation from CPA Michael Moran of Robinson, Farmer, Cox Associates during a Monday, February 27, meeting.
According to Moran, the financial audit for the 2022 fiscal year concluded with an “unmodified opinion,” which is the proper standing to be in, he said.
Moran also provided several financial highlights in his report, including a total of $9,802,610 as the net position for the town’s governmental activities for the fiscal year, which was a positive change in net position of $102,313 from the previous year.
Additionally, Moran noted the long-term obligations of the town’s governmental activities decreased by $133,962. There was an increase of $309,850 towards long-term obligations for business-type activities, primarily attributed to loan drawdowns for the Waste Water Treatment Plant improvements.
Moran also said the assets and deferred outflows of resources exceeded liabilities and deferred inflows by $15,741,097….
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