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March 13, 2013

LGC preps for Princeville's Budget

PRINCEVILLE — PRINCEVILLE — The Local Government Commission will soon begin working on the Town of Princeville's  2013-2014 budget.

A spokesman for LGC said they will seek input from the town commissioners and the citizens, but they will have the final say on the matter. As required by state statutes, at least one public hearing will be held prior to the adoption of the budget, the spokesman said.

All local governments are required to generate budgets for the fiscal year which begins July 1. The deadline for the completion of the budgets is June 30. For Princeville, the upcoming budget will be the second that will be orchestrated by the LGC after taking over the town's finances last June 30.

Prior to the takeover, town officials presented a proposed $1.8 million budget that included significant tax increases as well as water and sewer rate increases.

The LGC's adopted budget was $1.4 million and included only a garbage collection fee increase. The budget also eliminated several positions, including that of a full time town manager, finance officer and accounting clerk. LGC later reduced the town's maintenance crew to only 20 hours a week. That move alone saved the town a significant amount of money. The LGC has not hinted on whether or not those jobs will be phased back in the 2013-2014 budget.

LGC officials have said the town's financial conditions have improved since the takeover. One of the signs of improvement is the town was able to match $20,000 of a $80,000 Clean Water Management Trust Fund grant to pay for the repair and maintenance on four lift stations.

LGC is also prepping for the town's 2012 annual audit. Local governments are required to have its fiances audited by an independent CPA. Bids have been placed for the contract and LGC is expected to chose a CPA during its April meeting.

Audits are mandated to be completed by October. However, Princeville's 2011 audit has not been completed. The LGC staff is currently working on that audit and recently reported that the delay is caused because the 2011 books are in such bad shape.

With the anniversary of the takeover is just around the corner, LGC has not hinted as to when the books might be returned back to the town.

 

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Local News
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Dr. Deborah Lamm, president of Edgecombe Community College, received the national ACT Career Preparedness Award on behalf of the college Tuesday. Shown from left to right are Dr. Jon Whitmore, ACT CEO; Scott Montgomery, ACT vice president; Sid Baker, education program specialist, NC Office of the State Superintendent; Dr. Lamm; and Virginia Edwards; editor-in-chief, Education Week.

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