BLYTHEWOOD – The Town received a glowing report from its annual audit.
Gary Bailey of Love, Bailey & Associates, reported that general fund revenues from 2021 to 2022 climbed from about $2.2 million to $2.7 million.
Revenues climbed $481,000 despite modest declines in business license and franchise fees. Expenses increased by about $100,000, mostly related to Doko Manor, and the town generated over $1 million in operating cash flow, Bailey said.
The increase “allows the town to invest in more capital outlay, such as parks, and also pay down debt service,” he said.
Payroll and benefits also dropped by about $75,000, which Bailey said is another positive sign of the town doing more with less.
“You’re able to operate with a little less manpower and be efficient,” he said.
The town also has about $4.3 million in unrestricted funds.
“You’re just not carrying a lot of short term liability. You’re paying your bills when they come due,” Bailey said. “Overall the town has done really well coming out of COVID. I think you have good controls in place. You have a financially strong balance sheet.”
