The Town of Columbus is in an excellent financial state, according to the year-end 2015 audit, with a 58.2 percent fund balance, or rainy day savings account.

Columbus Town Council met with its auditors, Carland & Andersen Inc., during its December meeting.

Terry Andersen, with Carland & Andersen, presented the town’s audit report for 2014-2015, which ended June 30, 2015.

Andersen said Columbus continues to be in a good financial position, with 58.2 percent fund balance off $1.1 million in expenditures in the general fund. Andersen said municipalities are expected to keep a minimum of 20 percent fund balance.

Columbus’ total fund balance at the end of 2015 was $915,639, an increase of $46,090 from the prior fiscal year. Of the total, Columbus has $640,878 available for spending, or unassigned, according to the audit report.

Columbus’ actual revenues exceeded the budget by $24,609 for fiscal year 2014-2015 and actual expenses were less than budget by a total of $115,645, according to the audit report.

The town’s total debt increased during fiscal year ending 2015 by a net of $19,454 for the general fund and increased by a net of $73,877 for the proprietary fund (enterprise fund).

The debt in the general fund increased because the town took out loans to purchase a car and a truck. Columbus secured a loan from BB&T in the amount of $47,885 to purchase a Dodge Charger and a Dodge crew cab pickup truck for the police department. The charger was purchased for $31,098 and the truck was purchased for $25,285.

The town collected 98.4 percent of its total taxes, including for property and motor vehicles. Property tax was collected at 98.5 percent and motor vehicle taxes were collected at 96.49 percent during fiscal year 2015.

Columbus has a total property valuation of $125,261,357, taxed at 4.15 cents per $100 of valuation. Columbus has a total tax levy of $517,959 and had uncollected taxes for 2015 of $8,309, according to the audit report.

The town’s audit included no findings from the auditors for fiscal year-end 2015.

Columbus’ current 2015-2016 budget for its general fund was adopted at $1,155,010, which is a 5.1 percent decrease from the 2014-205 budget of $1,217,628, recently audited.

The tax rate remains at 4.15 cents per $100 of property valuation, which was increased during the 2014-2015 budget year by 1.5 cents for the fire department to have 24-hour staffing at the newly constructed fire substation on Peniel Road. The town’s portion of the tax rate is 35 cents per $100 of valuation.

Columbus’ adopted budget for its proprietary fund (water/sewer) for the current 2015-2016 fiscal year was $1,139,847, which is a 5.2 percent decrease from the 2014-2015 budget of $1,201,191, according to the audit report.