CPA Robert A. Neilson provided brief comments regarding his recently completed audit of the finances of the City of Bogalusa. Neilson informed the Council his opinion is an unmodified opinion (the best that can be given). He advised that a deficit occurred in 2016 due to about $400,000 in flood expenses, expenses that the administration expects to recover from FEMA.
Neilson reported that, because the City's funds had been so well managed over the previous two years, the City's ending fund balances are positive by about $7,000. Neilson stated, “Your revenues are down, your expenses are up and you still balance your budget. I don't think many people understand exactly what you are accomplishing with their money . . . You guys are knocking it out of the park.”
To view the full Bogalusa Council meeting of July 19, 2017 click here to see it on the City's website or click here to see it on our website.