Monday, April 22, 2023 - At their April 8 meeting, the City of Sallisaw Board of City Commissioners received a presentation on the just completed FY 2023 audit.
Derrel White of the FSW&B accounting firm, Stillwater, OK, presented the audit, along with comments regarding the financial status and operations of the city.
The annual audit, a state law requirement, was delayed this year when the original CPA firm engaged to complete the audit failed to do so. FSW&B assisted Sallisaw by completing the audit and issuing the financial statements.
After city staff and the city commissioners review the audit, it will be placed on the May 13 agenda for formal acceptance.
For FY 2023 the city’s Net Position remains strong at over $29 million. Since FY 2020, the city’s Net Position has increased by $5.8 million. Over time, Net Position is a useful indicator of a government’s financial position and how it can meet both current and long-term needs of the government.
During the year, the city noted a 10% increase in revenues, related to program revenues from grants and utility services. For FY 2023, the city handled $2.7 million in various types of grants. Overall, city expenses reflected a 3% decrease.
“On behalf of the Board of City Commissioners I want to express how pleased we are with our FY 2023 audit. The auditor noted no issues with our financial documents or our internal controls. Mr. White complimented our staff for their recordkeeping as some of the best he has seen. Our staff does an excellent job of ensuring compliance and accounting for all our revenues and expenditures, and for that we are very appreciative," Mayor Ernie Martens commented.
“Our annual audit is a reflection on city operations and policies that have been put in place to ensure the financial stability of the City,“ stated Keith Skelton, City Manager. “Projects in themselves can be very difficult to track due to their complexities. There are many rules and regulations that must be followed when accounting for our finances. Our staff takes great pride in accounting for every dollar that comes into the city and every dollar that is expended.”
Once the Board of City Commissioners formerly accepts the audit. this audit along with previous years audits, may be viewed on the city website at http://www.sallisawok.org/131/Financial-Statements-Audits.
KXMX Staff Writer
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