City audit report shows budget surplus
Despite a lagging economy, the city's operating budget has a $3.2 million surplus, according to an audit approved by the Russellville City Council members at their meeting Monday night.
Van Stack, a certified public accountant with Johnson, Stack and Johnson LLC in Florence, reviewed an audit of city's 2006-07 fiscal budget.
"The bills are being paid and everything is running as well as can be," said Stack. "I think overall the city report is good … it's where you end up and not where you start."
Craig Grissom, the outgoing councilman for District I, said contrary to rumors, the city finances are in the black.
"The city has an excellent bond rating and a $3.2 million surplus," Grissom said, who has served on the council since 2000. "I'm really proud that we're in the best shape (financially) in 16 years and that we've been able to give raises to city employees."
David Kennedy, councilman for District 2, said the city has utilized grants to avoid spending local money when possible.
"We have made good use of grants for projects," Kennedy said. "Grant money has allowed us to use less local money on projects and (appropriations).
In other business, the council: