By Leah Justice

leah.justice@tryondailybulletin.com

The City of Saluda received its audit report for fiscal year 2015 that included the city ending with a 55.54 percent fund balance at the close of last year.

The Saluda Board of Commissioners met Monday, April 11 and heard from Levonia Reese, with auditors Carter C.P., who detailed the audit report for fiscal year 2014-2015, which ended June 30, 2015.

Reese said the city’s total fund balances increased by $145,456 during fiscal year 2015. The city had a total of 77.81 percent fund balance ($1,952,770), including $1,519,447, which is restricted. The city’s unrestricted, or available fund balance at year-end was 55.54 percent of its general fund expenditures, or $520,487.

Reese also mentioned that the city’s total debt increased over the year by $427,896 because of long-term debt issued to finance renovations to the city hall/police department building. The renovations to the historic building downtown were completed last year.

This was the first year Saluda has contracted with Carter, and Reese told commissioners she appreciated working with employees and being a part of the city’s team. She said there were no significant deficiencies, or findings that had to be reported in the audit.

Saluda collected 97.65 percent of its taxes, including property and motor vehicles. Property taxes were collected at a rate of 97.67 percent for property taxes and 97.38 percent for registered motor vehicles for fiscal year 2014-2015, according to the audit report. Saluda has contracted with Polk and Henderson counties to collect its property taxes. The state collects motor vehicle taxes.

Highlights for the current year budget, which will end on June 30, 2016 noted in last year’s audit report, included a 1.7 percent cost of living increase and longevity pay for staff, and the city choosing not to appropriate fund balance for the current fiscal year.

“Management believes that increased revenues and continued restrictions on spending will maintain the city’s financial position,” states the audit report. “Though management believes current growth will generate revenue to support city operations, a careful analysis of property tax revenue will be considered in future years’ budgets.”