Auditor: Landrum in ‘best shape of any town I audit’
Published 2:46 pm Friday, February 20, 2009
Despite tough economic times and an unclear future with regard to state tax revenues, the City of Landrum is doing remarkably well, according to its auditor.
Landrum City Council heard last week the city&39;s audit report for fiscal year 2007-2008, which ended September 30, 2008.
Auditor Howard Nichols said that Landrum is in good shape financially, with almost $900,000 in cash.
&dquo;This town is in the best shape of any town I audit,&dquo; said Nichols.
Landrum finished the year by adding $86,689 to its fund balance for a total of $1,136,294, of which $74,381 is reserved.
The city budgeted to collect $486,469 in property tax revenue for the fiscal year and actually collected $582,573.
The city&squo;s total general fund budget was $1,318,191.
Nichols did suggest the city make some changes in its administration. Nichols said Landrum should have better segregation of duties. He said his main concern about Landrum is that there is no one trained as a back up for the city clerk.
Nichols also suggested that Landrum separate its general fund and fire department budgets. Nichols said the general fund and the fire department both need to stand on their own.