York Neel and Company says the City of Hopkinsville is in good financial standing. Tuesday night, City Council heard from CPA Kelly Webb regarding the 2024 Fiscal Year audit. Webb says their opinion is the financial statements present fairly and is a clean audit.
click to download audioSome of that debt belongs to HWEA, HES, and Solid Waste, as the city serves as a loan holder, but those organizations are paying off their respective debt. She adds the city’s assets minus liabilities give its net position.
click to download audioWebb says the pension will obviously not be paid out all at once.
In business matters, City Councilmembers approved almost $62,000 in matching funds for a $309,000 FEMA grant to purchase a new Brush Truck and an additional $200,000 in matching funds for the $7 million federal grant being used to construct the road system and rail spur at Commerce Park II.
Council also approved moving $25,000 into Adminstrative funds. Chief Administrative Officer, Troy Body says the funds will cover the trip to the International Council of Shopping Centers (ICSC) Retail Recruitment Summit.
click to download audioThe Summit will take place in May.
