CAVE CITY —
Cave City city council members received good news Monday night regarding the financial status of the city.“Once again the city got the best audit report it could get from an independent auditor. It’s called an unqualified opinion, which means we are not having to qualify for anything that we believe that is not fairly stated,” said David Gilbert with Gilbert and Gilbert, a certified public accounting firm.
Gilbert reviewed the city’s 2012-13 financial audit with council members during the meeting. He pointed out the city has a fund equity or fund balance of $59,558, which is considerably more than the city’s fund balance of 2011 or 2010.
In 2011-12, the city had a fund equity of $7,929, but in 2010-11 the city’s fund equity was a negative $37,566.
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