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Findings from Prestonsburg's latest audit

Prestonsburg is making improvements in its financial accounting system, but still has room to improve, according to the city’s most recent audit. During their regular meeting Monday night, members of the city council reviewed the audit, which showed the city generated $92,356 more in general fund receipts than had been budgeted, and $444,245 more in revenue across all accounts. But CPA David L. Garrett, with Jones, Pack and Associates, which reviewed the city's books, told council members his firm noted several areas where improvements should be made. Most seriously, from a financial perspective as well as a legal one, was the fact that the city is not paying its health insurance premiums on time.

Filed under: Floyd Co. | Economy


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