Auditor gives OK to Madras
In its second year as the city of Madras' auditor, the certified public accountanting firm Dickey and Tremper, of Pendleton, found the city's finances in order.
Auditor Rob Tremper told the Madras City Council Jan. 8 that while the letter to the city made a number of suggestions, "overall, I think we're better than we were before."
"The big picture is that the city of Madras is well positioned to deal with the current economic slowdown," City Administrator Mike Morgan wrote in the financial report. "I believe the audit shows that the city is in a financial position to cope with short-term swings in the local economy."
Tremper agreed with Morgan's assertion that there has been "slow but solid year-to-year improvement in the fiscal health of the city."
Total net assets for the 2007 fiscal year were $25,404,401, up from $22,985,795 for 2006.
"The city continued in FY 2007 to aggressively invest in capital infrastructure assets faster than they are depreciating," Morgan reported.
Although the city's debt was down 3 percent, to $507,993, that's expected to change. "This number will increase as the city incurs additional debt in the construction of the new sewer ponds and land treatment/irrigation system for its treated effluent," he wrote.
Tremper recommended that "payroll expenditures and liabilities be reviewed on a regular basis to ensure proper recording."
He also suggested that the city obtain a more detailed listing of its assets through an inventory, so the city can better account for its assets.
"We are pleased by the response shown while discussing the recommendations listed above, some of which have already been implemented," he added.
Because the workload in the finance department has increased, Tremper said the city should consider additional staffing.
"The department doesn't have time to track all the projects and fees," he said.