Glasgow council reviews audit

By BRAD DICKERSON
Glasgow Daily Times

GLASGOW March 14, 2007 04:45 pm

— Representatives with Taylor, Polson and Company CPAs were at the Glasgow City Council meeting Monday night to present an audit report for June 30, 2006.
John Taylor discussed highlights of the report, such as net assets increasing by $5,795,880, or 16.1 percent, and the general fund unreserved fund balance being at $5,957,000, or 54.6 percent of the general fund expenditures.
“The city’s total debt decreased by $713,000 as the result of payments on past capital lease obligations,” Taylor said.
In other business, three resolutions and the first readings of three ordinances passed regarding zone change applications.
The first ordinance rezones the property approximately 235 feet southwest of the North Race Street and Happy Valley Road intersection and approximately 140 feet northeast of the North Race and West Leech avenue intersection. This contains 0.219 total acres.
Another ordinance called for the rezoning of property approximately 130 feet southwest of the North Race Street and Happy Valley Road intersection and approximately 758 feet northeast of the North Race and West Cherry Street intersection. This contains 0.349 total acres.
The final ordinance rezones property approximately 480 feet southeast of the East Main Street and Elm Hill Drive intersection and approximately 1,405 feet northwest of the East Main Street and Lenna Drive intersection. This contains 0.614 total acres.
All the properties will be rezoned from R-2 to B-2 classification.
Another resolution approving Glass Paving & Stone LLC to act as the construction manager for the Trojan Trail widening and improvement project and authorizing the execution of a construction management agreement.
The first reading of an ordinance closing a portion of Liberty Street between West Front and Mitchell streets was also approved. Ownership of the property within the portion of the public way being closed would revert back to its two original property owners.
A resolution was also approved to support the Elizabethtown Airport Board in their efforts to establish competitively priced regional airline service at the Elizabethtown Airport.
After going into a short closed session to discuss property acquisition, the council members approved a resolution to purchase the property of South Central Bank of Barren County on East Main Street for $108,500.