BY DEBBIE PAGE
The Town of Troutman has received a clean audit report for the 2023-2024 fiscal year.
Accountant Alan Thompson presented the findings of his firm’s audit during Thursday’s town council meeting. He praised Finance Director Justin Mundy and the department heads for their hard work and cooperation.
In audit highlights, the town had a total general fund balance of $6,103,894 on June 30, 2024, with $5,163,878 available to spend, if needed. The council has worked to save for future projects, growing the town’s fund balance savings from just $2,962,750 in 2021.
General fund expenditures were up more than $2 million over the previous fiscal year, reaching $10,478,679, which included acquisition of the Dollar General site and other property.
The town has has $705,313 in fund balance earmarked for capital projects (up $270,190 over the previous year) and $21,564,597 in the water and sewer fund balance (up $2,266,761 over previous year).
The county collected 98.49 percent of the town’s ad valorem taxes on the $1,303,632,000 of total property valuation in the town, which amounted to $6,511,269 in property taxes. The town also collected $1,843,381 in other taxes and license fees. In total, with the addition of other revenue sources, general fund revenues were $10,347,480 in 2023-2024.
The town spent $10,436,394 last fiscal year, with $4,642,572 (44.48 percent of budget) going to general government, $2,790,041 (26.73 percent) to public safety, $1,620,399 (15.53 percent) to streets and public works, $516,973 (4.95 percent) to cultural and recreational, $280,985 (2.69 percent) to capital outlay, and $585,424 (5.61 percent) to debt service.
Council member Paul Henkel was elated with the report, saying he “loved when planning comes together.” He noted the council had been working to improve the town’s financial position for years.
“This is the kind of thing that lets me sleep soundly at night,” added Henkel.
Town Manager Ron Wyatt noted that tax collections, which are conducted by the county, were down slightly, but he is working with officials to collect these outstanding tax obligations.
EMPLOYEE OF THE MONTH
Jose Pinhiero was honored as Employee of the Month for December. Pinhiero is the town maintenance technician for all departments and handles electrical and plumbing issues as well as trimming limbs and watering flowers on town properties.
Parks and Recreation Director Emily Watson said Pinhiero works all hours and shifts in all types of weather. At all of the December town events, Pinhiero supported the rec department along with all of his other daily duties, often staying late to make sure everything that was needed was on hand.
Watson said that Pinhiero is “a jack of all trades and a wonderful teammate that we are thankful to have on staff.”
OTHER BUSINESS
♦ The council discussed a contract extension with Verizon to continue placing equipment on the town’s water tower. The company proposed paying $1,975 per month with a 3 percent increase each year on April 1 over six five-year leases, or offered $427,700 for a 45-year easement.
Wyatt recommended taking the monthly option with five-year leases to give the town more flexibility and to allow either party to exit the deal at the end of each five-year lease.
Council member Nick Jaroszynski suggested asking for a 5 percent yearly increase, which Henkel made into a motion and the council approved. Wyatt will continue negotiations with Verizon.
♦ The council decided to wait to set the strategic planning retreat date since Mayor Pro Tem Jerry Oxsher was absent due to illness.