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An independent audit found that the city of Portola is headed in a good financial direction.
Elba Zuniga, an auditor from Gallina LLP, reported the audit results at the Jan. 8 City Council meeting.
Zuniga presented an audit report to the council and said she found that the financial report prepared by City Finance Officer Susan Scarlett was “fairly reported.”
She covered the highlights of the year, saying more than $3.1 million is available for city spending, which could include programs for citizens, city budget costs and debt obligations to creditors.
“In our opinion, right now, the city is going in a good direction,” she said.
According to Scarlett, the city is comfortable financially. She said the city could bring no revenue in for a few years and it would still be able to survive.
Scarlett addressed the water and sewer funds as well. She said that though they have made great strides in lessening the impact of the enterprise funds, because of state regulations, there are “a lot of things that happen with the enterprise funds that we have no control over.”
The city must strive to stay in compliance with the state’s changing regulations and must also have money to put aside for its aging infrastructure.
The council also discussed the yearly budget schedule and goal setting for the 2014-15 fiscal year. Scarlett said she would like to have the budget adopted by June 25, 2014, so the city can continue on the trend of financial stability.
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