City Audit highlights Valley Grande City Council meeting

Published 10:14 am Thursday, February 10, 2022

Getting your Trinity Audio player ready...

A city audit topped Valley Grande’s city council meeting on Monday night.

Katie Vega of the Jackson Thornton Accounting firm presented the 2021 financial audit to mayor Wayne Labbe and the city council members: Kay Davidson, Sara Day, Jane Harris, Bruce Hughes and Robbie Rose.

Vega said the city is run well and had a clean audit and praising City Clerk/Treasurer Kim Harris for her hard work.

Email newsletter signup

“The city has no long term debt with over $2 million in cash and CDs,” Vega said. “The revenue exceeded expectations.”

Vega also said that the city’s sales tax increased by $143,000. Valley Grande has a net of $3.6 million, $1.4 million unrestricted.

Vega said that the American Rescue Fund money was the only adjustment to the audit and the $40,000 was moved to the balance sheet.

“When the American Rescue fund money is spent, it will show up as Revenue,” Vega said.

The next Valley Grande City Council meeting will be held Tuesday, February 22 at 6 p.m. It’s moved to Tuesday because of President’s Day is February 21.