Rising Sun gets good audit report

Karen Dojan with the accounting firm of Weyrich, Cronin and Sorra gives Rising Sun its audit report for the fiscal year that ended June 30, 2021.

RISING SUN — Town of Rising Sun officials recently got good news when Weyrich, Cronin and Sorra, a certified public accounting firm in Elkton, presented the results of its most recent audit.

“You are in a really good financial position with significant reserves,” Karen Dojan told Rising Sun’s elected body. “You are able to cover your debt service and have money set aside for specific purposes.”

Dojan outlined the town’s various accounts as of June 30, 2021 showing the town finished the year with a net position of $8.6 million in equity.

“Your net position dropped $500,000 but it’s based on capital assets which are depreciated on an annual basis,” she said.

Dojan said total expenditures in Rising Sun were $4.6 million.

“$1.7 million of that was governmental and $2.7 million was water and sewer,” she said. Revenue was about the same as the previous fiscal year at $3.8 million.

Dojan also explained that the annual audit, which is required by law, looks for inconsistencies and problems.

“We issue a report on your financial controls. We look for material weaknesses or significant deficiencies,” she said. One material weakness was found by the auditors, but Dojan noted that the weakness was simply in the way a fund was reported.

“The adjustments are material in nature,” Dojan said, adding, “There are no issues with compliance.”

Dojan said work done in advance by Judy Melton, town clerk and treasurer, made the auditing task easier.

“Judy has worked very hard to improve the financial reporting for this town,” she said.

That was a welcome note to the mayor and commissioners.

“It speaks volumes because we had outsourced our finances for several years,” said Rising Sun Mayor Travis Marion.

Until Melton came on board in March 2018, Rising Sun used Patricia Wagner’s accounting services to handle the town’s finances. By October of that year she had been appointed clerk treasurer by a resolution.

Melton said she has since set in place a series of checks and balances for each function so there can be no questions about the town’s money.

“It’s really good control,” she said.

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