6.b Treasurer's Staff Report
Staff Report
Date of Meeting: April 20, 2021
To: City Council
From: Colleen Firkus, Treasurer
Re: Revised February Treasurer’s Report & March Treasurer’s Report
In this meeting packet is a February 2021 Treasurer’s Report revised 3/25/21. This is different
from the previous report in that the beginning cash balance was changed to reflect the
completion of the annual audit and audit journal entries, and I changed the format. The ending
cash balance remained the same and is now in agreement with the February Cash Balance
report. There were approximately 64 journal entries made to close out the books for the year
involving booking accounts payable, receivable, delinquent taxes, depreciation, deferred
revenue, interfund loans, coding errors, inventory, and prior year corrections. Therefore,
January and February financial reports change due to these journal entries.
The audit went very well for our first remote audit. It was actually a very efficient way of doing
it and our Laserfiche system with all our data digitized made all the difference.
With the March 2021 Treasurer’s Report, I am including a report called Budget Control
Summary to replace the Expenditure Summary. This summarizes both Revenues and Expenses
for all funds and compares them to the budget.
I won’t be at this meeting to take questions as I will be in the North Carolina visiting my
brothers and my daughter. Please feel free to reach out to me with any questions you may have
regarding these reports.