BEAR CREEK - The Town of Bear Creek was praised by its auditor, not only due to exceeding revenues over expenditures by over $300,000, stating the town’s financial structure is the best it has been in several years.
Certified Public Accountant Don Wallace paid a surprise visit to the Monday, April 4, Bear Creek Town Council meeting to review the audit findings for the year ending Sept. 30, 2021, with Mayor Rob Taylor, Clerk Kay Wiginton, council members, as well as the public in attendance.
“Does it seem like we’re making a step in the right direction?” Taylor asked Wallace.
The figures spoke for themselves in answering that question, along with remarks made by Wallace to back up those figures.
Revenues for the Town of Bear Creek for the fiscal year were $1,948,204, compared to $1,635,449 in expenditures, for a difference in net assets of $312,756.
The town ended the year with a general fund balance of $302,000, an increase of $200,000 from the previous year, according to Wallace.
“Your governmental funds as a whole had right at $400,000 in cash balances, $20,000 in liabilities, so that is a lot of improvement financially,” Wallace stated.
See complete story in the Northwest Alabamian.