State-mandated financial reviews of Hanceville’s public books over the past two fiscal years have returned a clean bill of health for the city, revealing no major errors, discrepancies, or irregular accounting and money-handling practices since the reporting period’s start date late in 2017.

Official audit reports for both the 2017 and 2018 fiscal years were presented to the Hanceville City Council this week by local accounting firm Segroves & Co., P.C., yielding a two-year report that finds the city in good financial shape, as well as a record of stewarding public funds in full compliance with state guidelines. 

“We basically got back a clean report, saying the city is in a better position this year than it was last year, and that things look really good; that everything is being handled appropriately,” said city clerk Tania Wilcox on Friday. “We had no significant irregularities or discrepancies in our reporting, and that’s always what you want to hear when you expect an audit back.”

The city received reports all at once for both 2017 (covering the period between Oct. 1, 2016 and Sept. 30, 2017) and 2018 (covering Oct. 1, 2017 to Sept. 30, 2018), owing to a backlog of work on the auditor’s part. 

The one-two presentation, in one fell swoop, of two audits for consecutive fiscal years does not violate any timeline requirements set forth by the State Department of Examiners of Public Accounts, where the audits will be forwarded and permanently filed, said Wilcox. 

With tax revenues up over the past couple of years, the city’s finances are in better shape than they were when the last audit, covering the 2016 fiscal year, came across, Wilcox added. 

“Overall, our liabilities and debt obligations are down, while our assets are up,” she said. “Our financial position is stronger, because we’re bringing in more money than last year and the year before. And, while we’re spending more money as a result, that’s a function of increased revenues, and it’s simply the way that the city adjusts to what it’s able to spend in the current budget year.”

Benjamin Bullard can be reached by phone at 256-734-2131 ext. 145.