Auditor says Columbia’s accounts are in good shape

Published 2:17 pm Tuesday, February 6, 2018

Jeff Best, certified public accountant of Belhaven, presented his audit report on January 16 to the Columbia Board of Aldermen.

Highlights of the town’s financial position as of June 30, 2017, are:

  • The assets exceeded liabilities and deferred inflows of resources by $11,976,494 (net position).
  • The town’s net position decreased by $83,220, primarily due to the decrease in the water-sewer fund.
  • Combined fund balances were $692,904, of which $109,958 were restricted.
  • Unassigned General Fund balance was $582,946, or 112% of total General Fund expenditures for the fiscal year.
  • Town’s total debt decreased by $88,599 (3.71%) on account of principal payments on installment purchases and revenue bonds.