Ludlow's Funds "Leaps and Bounds Above" Where They Were
A report on the annual audit of the City of Ludlow revealed improved financial standing for the city at last week's city council meeting.
Accountant John Chamberlin of VanGorder, Walker & Company presented his report Thursday night. He said the city had excellent internal controls and no issues with non-compliance. He also stated that the city should work on having a contingency fund equivalent to three months of cash on hand, which for Ludlow would be about $900,000.
Currently, the city has about $244,000 but the accountant said it was understandable because Ludlow had just paid off a tax anticipation note of $352,000.
"The city's account is leaps and bounds above where it was 4 or 5 years ago," Chamberlin stated. "I applaud you as a city for taking the steps necessary to be better."
After Chamberlin's report, accountant David Baker wrapped up the effects of the report.
He said the city's goal was not to take out another tax anticipation note. He also said a newer goal was gradually to eliminate some of the smaller debt, and to get a capital improvement plan in place, as well as a capital improvement fund.
Baker said the city is currently doing all those things and focusing on making the city more financially stable.
Baker also told council that the city is moving forward on the OpenGov software system to give full transparency to the public. He said he hopes to have it up by April 1, but he acknowledged it is tax season, and that could be pushed back a little.
Last month there was a complaint from Joel Walters, a resident of Lake Street, that there were strong odors coming periodically from the sewers, giving his wife serious headaches. Fire Chief Rob Dreyer promised that he would do what he could to help and the chief reported that he was able to put Walters in touch with people who might be able to help. An administrative expert at US Nonwovens, the company that dumps liquids into the sewers, has contacted Dreyer to have a meeting about three possible solutions to the problem. Dreyer said Walters is satisfied with the process, and happy that something is finally being done about the odors.
Police Chief Scott Smith said that some people think that because the yellow part of the curb might be covered with snow that that part of the street becomes a legal parking spot. He reminded residents that that is not the case, which is important as the city tries to treat snowy streets.
Council approved a resolution appointing Karen Collins to serve on the Park Commissioners Board.