Carefree Truth

                Issue #441, November 16, 2015

 

 

 

Mayor Les Peterson announced that the Fiscal Year (FY) 2014/15 Town of Carefree Audit, Expenditure Limitation Report, and Financial Review had been completed.  Crimson Singleton, from HintonBurdick, PLLC, attended telephonically to address any questions.

 

 

 

Gary Neiss said Jim Keen, the Town Accountant, does an excellent job.  Once again, the Town got "the highest marks".  Table #6 from the body of the audit, which can be seen on the video at 1:36, shows the revenues and expenses, and the fund balance of $1,913,952 which was returned to the reserves at the end of FY 2014/15. 

 

 

 

Next, Mr. Neiss put up a chart showing the Town reserves over the last 10 years.  The minimum in the reserves was approximately $5 million.  It has moved upwards to approximately $7 million today.  This was accomplished during the "global meltdown".  "Are we spending money 'til it's all gone?  No.  This, once again, is validation that there is money in the bank and we are a very conservative community." 

 

 

 

Over $10 million has been invested in the community during this period.  It's been spent on fire infrastructure.  The Town bought land, built a fire station, bought a fire truck, and fully equipped the station and the truck.  Carefree invested in water infrastructure.  The capacity of the water system was increased.  Hundreds of fire hydrants were installed throughout the community.  There is a 3 day emergency water supply.  Carefree hooked into the Cave Creek and Scottsdale systems.  The Town has an assured water supply.  The best maintenance practices are used on the streets.   Carefree was one of the first in the metropolitan area to apply what is now common practice to extend the life of the pavement.  60 acres of open space was attained for less than $300,000.  This preserve contains amazing petroglyphs and beautiful desert landscape.  Investments were made in the Town government.  The building at 8 Sundial Circle was purchased for Town Hall office space, and recently the building at 33 Easy Street was bought to house the Council Chambers.  "The Town is not going anywhere, and it's foolish from a business perspective to continue to lease."  Carefree has continued to strategically invest over that 10 year window.  "It's about building community."  

 

 

 

The present and past Councils should be congratulated for their achievements.  Carefree is repositioning itself now through economic development to be sure the model is stabilized in the future.  "We are not shooting from the hip."  Last week, the Arizona Planning Association Award for revitalization plans was presented to Carefree at the State conference in Tucson.  Carefree was competing against Phoenix and Mesa, cities and towns large and small.  Carefree won.   "We have a lot to be proud of."  This award gains notice from people in the private sector looking to invest. 

 

 

 

Councilman Mike Farrar said he was most proud of the fact that every investment is fought over, vetted, and earned.  The Council must be stewards and debate every expense.  There is no carte blanche.  Mr. Neiss replied, "I couldn't agree with you more."   

 

 

 

Jim Keen explained that the grant money from the state and federal governments to repair the monsoon damage had been spent but had not yet been reimbursed, so he had not accrued the income into FY 2014/15.  The auditors decided it had to be accrued to that FY, so Mr. Keen restated the June, July, and August entries to reflect the change of $101,405, per HintonBurdick. This marks Mr. Keen's 13th consecutive clean audit.  Crimson Singleton stated that everyone at the Court, Water Company, and Town does a great job.  All received "clean opinions".  "Everything is in good order."

 

https://vimeo.com/user18676056/review/145735658/8922afdef2

 

 

 

Lyn Hitchon

 

 

 

Prepared by Carefree Truth

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