CRC Audit Report
FARMVILLE – The Commonwealth Regional Council was presented its yearly audit report during its meeting on Thursday, October 7.
Larry Snead, CPA with Burnett & Snead, LLC out of South Boston, provided the CRC with its audit for the fiscal year that ended on June 30.
According to the audit report, there were no deficiencies in internal control or material weaknesses in the Council's financial reporting.
Also, the results disclosed no “instances of noncompliance,” he said.
“You did get a clear opinion,” he continued about the audit for the past year at the CRC.
The Council's assets exceeded its liabilities by $431,053.43 for the fiscal year reported, according to the report.
According to Snead, capital assets of $22,645.25 including property and equipment and unrestricted net assets of $408,408.18 represent the portion available to maintain the “continuing obligations to citizens and represented localities.”
The Council's budget for total expenditures for fiscal year 2010 was approximately $576,496 and $347,120 in total revenues, he reported.
The budget for the fiscal year was a decrease of $192,258 over the previous year's Council budget.
“One thing that I would like to bring out and you can probably see that,” he noted about the decrease, “the biggest reason-just about the whole reason-was because in (20)09 you had a (General Assembly) Special Appropriation carried forward of about $197,000 that you didn't have this year and you also had $51,000 in (20)09 for regional lobbying…”
Other than that, the audit results showed that the last two years have been “pretty much even.”
Of the revenue that comes into the CRC, $109,900 of the total came from local member dues.
The current fiscal year budget's projected revenue took a hit because Cumberland County and Longwood University decided (due to the economy) to discontinue participating in the regional organization.
According to the audit, each member locality funds $15,700 to the CRC.
Total liabilities detailed in the audit show that the CRC's current liabilities total $62,360.14
Accrued employees' fringe benefits total $60,360.14, he added.
“Basically, that's vacation, Comp time, and holidays,” said Snead. “If everybody was to walk out the door at one time that is what your liability would be to pay those expenses.”
Cash-on-hand as of June 30 was $463,506.36, stated Snead.
Also stated in the report was a listing of completed and continuing projects.
In the last fiscal year, the CRC completed seven locality projects.
Those projects included: Cumberland County Transportation Enhancement Project, $12,000; Town of Dillwyn Business District Revitalization, $3,000; Town of Dillwyn Comprehensive Plan, $16,000; Virginia Department of Transportation, $58,000; Charlotte County VCDBG Emergency Sewer Project, $25,000; Lunenburg/ Kenbridge / Victoria Broadband Planning Project, $3,500; and Lunenburg Safe Routes to School Project, $25,000.
“There's a breakdown of all of the projects that were either completed or ongoing at the year-end,” said Snead.
There are 12 projects that are ongoing.
After the presentation, the Board voted to accept the audit as presented.
“Mary (Hickman) and Melody (Foster) were very helpful and easy to work with,” said Snead. “They make my job a lot easier.”
In other news, there were just enough members present to conduct the meeting and then, later, Don Gantt (alternate) representing Prince Edward's Board of Supervisors and filling in for William “Buckie” Fore Jr., arrived.
Fore is the Vice-Chairman and after the business portion of the meeting was conducted there was some discussion related to allowing alternate members to serve on committees as well due to attendance issues and needing someone close by the CRC office to sign checks and fulfill the treasurer's seat, Chairman Gary Walker noted.
According to Mary Hickman, acting CEO and president, she would have to refer to the Council's by-laws and bring the information back to the group at its next meeting.
Because of this, the appointment of the 2010-2011 fiscal year officers was, again, tabled.
A personnel issue was later tabled, as well as the appointment of committee members to review CRC marketing expenses.
Longwood University, the Town of Farmville, Hampden-Sydney College, and Cumberland County have all stepped down from participating in the regional council in recent years.
F.D. “Danny” LeSueur was recently appointed to serve on the Council by Buckingham's Board of Supervisors after notice was received late summer that Dr. Brian Bates would be stepping down from the seat. LeSueur was absent for the meeting.
Also in attendance for the meeting was Ellsworth Bennett, Amelia; Chairman Gary Walker, Charlotte; and Wayne Hoover, Lunenburg.
To continue the discussion from September, Ms. Hickman also provided information to the Council related to stipends paid to Board of Supervisors members who serve on other organizational boards.
Chairman Walker had asked Ms. Hickman to provide feedback related to this issue as a way to begin working to increase the attendance number at Council meetings.
“We did a poll finding out what other organizations there are where Board members are appointed to by their respective localities,” explained Ms. Hickman. “I'd say that the large majority of the organizations don't pay a stipend or mileage.”
Only three agencies, she said, provide stipends-they range from $25 for a meeting to as high as $50 for a meeting.
The other went as high as $150 a month, she noted.
“The largest majority of these organizations do not pay a stipend,” she reiterated.
Walker expressed that he was “mostly interested in Planning Districts” and if a stipend was provided.
“I was just curious,” he said. “We have had a problem of attendance and part of this discussion was maybe if the (CRC's) stipend needs to be reviewed.”
According to Ms. Foster, regional planner, the CRC representatives are entitled to 55 cents per mile reimbursement and $15 per each meeting for regular meetings and then $20 for those who serve as officers.
Ms. Hickman confirmed that she would check with other Planning Districts in the state and report back to the Council in November.