Independent audit shows City of Sedalia in ‘better shape’ than last year

September 28, 2012

in Local

By Kyle Siegel
Staff writer

The Sedalia City Council had a full schedule at Monday night’s council meeting. Before the council session, they heard from Fred Korte, a representative with GK&C, concerning an independent auditor’s report over the city’s financial activities over the last fiscal year.

Council member Wiley Walter asked Korte, “Are we in as good a shape as last year?”

Korte replied with a brief, but positive answer.

“Better,” Korte replied.

In the informational packet provided by GK&C, they gave a list of financial highlights.

According to the report the assets of the City of Sedalia exceeded it’s liabilities at the close of the most recent fiscal year by $205,811,861 of net assets.

Of this amount, $52,676,929 of unrestricted net assets may be used to meet the city government’s ongoing obligations to Sedalia citizens and creditors in accordance with the city’s fund designation and fiscal policies.

The City of Sedalia’s total net assets increased by $2,991,580 bringing the total net assets to $205,811,861.

At the close of the current fiscal year, the City of Sedalia’s unassigned fund balance for the general fund was $10,129,749. This accounts for 68 percent of the total general fund expenditures.

The City of Sedalia’s revenue bonds payable decreased by $1,350,000 due to scheduled payments and refunding of the Sedalia Water Department revenue bonds.

The certificates of participation debt decreased $545,000 due to scheduled payment, while the capital lease debt decreased $671,325 due to scheduled payments as well.

The note payable debt of the city decreased $1,593,649 due to scheduled payments.

During the regular meeting, the council approved an ordinance amending the city code to allow demolition and construction waste in the weekly trash collection. It allows for the acceptance of demolition and construction waste materials subject to the weight and size restrictions already provided by city code.

This change goes into effect immediately.

The council also voted to amend the city code on the allowable height for weeds and grass. The new maximum height was reduced from 12 inches down to eight inches.

If a homeowner or renter receives a notice on the length of their grass and weeds, they will now have 15 days to correct the issue. This will go into effect on Jan. 1, 2013.

The council also voted to amend the definition of the word rubbish as pertaining to city code.

It now states that any furniture and appliances originally manufactured for indoor use, shall not be used in an outdoor setting. This will go into effect on Jan. 1, 2013.

In other council business, they voted to approve and accept a license agreement with the Missouri Department of Natural Resources for the Katy Trail access from Clover Dell Park.

This allows the Sedalia Parks Department to maintain an access point between Clover Dell Park and the Katy Trail. The Sedalia Parks Department approved this first at their Sept. 6 meeting.

The council also approved a letter of support for the construction of a display at the intersection of 16th Street and 65 Highway on the Missouri State Fairgrounds. The display would depict Sedalia’s influence with the westward expansion of America.

This letter would allow the Trails End Committee to re-approach the State of Missouri concerning the display.

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