WAGRAM — Praise from the town’s independent auditing firm about how Wagram’s finances did last year put smiles on the faces of town officials Thursday night.
Wade Greene, a Whiteville certified public accountant who the conducted the audit, congratulated the town on having a clean audit. The report was for the fiscal year ending on June 30, 2015.
“The graphs in the audit say it all,” Greene told the board. “If you need to borrow money, you should not have a problem. You’re really in good shape.”
According to the audit, the town’s assets exceeded liabilities by $6,093,885. The total net position increased by $446,199.
The General Fund available balance for 2015 was $568,229 up from $537,633 for 2014. The fund balance available as a percentage of expenditures was 153.4 percent in 2015 up from 122.1 percent for the previous year.
“That’s a great percentage for a small town,” Greene said. “It is probably one of the highest percentages from here to Pender County.”
The town received $183,683 in tax revenue in 2015, up from $169,264 in 2014, the audit said.
The report also said the overall tax collection rate — at 88.7 percent — could be better. The average rate for surrounding towns was about 93 percent. The state’s average tax collection rate is 98 percent, according to Ward.
Mayor Milton Farmer said because the county manages tax collection for the town, Wagram has little control over how much is collected.
“I’m very well pleased with the audit,” farmer said. “I’m happy.”
During the public comment portion of the meeting, resident Don Ward asked the commissioners about enforcing the town’s noise ordinance near his home.
You need to sit out there and listen to some of the music and the words coming out of those car speakers,” Ward said. “We can sit inside the house and the windows will vibrate. You all need to do something to stop it.”
Town officials said they would investigate the situation.
Reach Scott Witten at 910-506-3023