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Council accepts FY2022 audit, approves legal and bond counsel contracts, renames street for Eddie Hicks
Summary
The council received the FY2022 Comprehensive Financial Report, approved contracting Hicks & Koinis for CDBG-NR legal services and Sanford Holshouser for bond counsel on the KLRWS expansion, and unanimously approved renaming E. Winder Street in honor of Eddie James Hicks.
At its Dec. 12 meeting, Henderson City Council received the Annual Comprehensive Financial Report for the fiscal year ending June 30, 2022, and approved related procurement and naming actions.
Auditor R. Bryon Scott presented highlights from the FY2022 audit: the city’s five-year total fund balance is approximately $12.3 million, unavailable fund balance about $3.2 million, the General Fund available fund balance is roughly 55% of General Fund expenditures, and the City’s tax collection rate is 97.57%. Mr. Scott noted the City’s largest expenditures are public safety, transportation and recreation and parks; he also flagged uncollected taxes just over 3% as a monitoring point for the Local Government Commission (LGC) process. Council approved receipt of the audit (Resolution 22-78).
Council approved Resolution 22-77 to accept a bid from Hicks & Koinis, PLLC to provide legal services for qualified activities under the Community Development Block Grant–Neighborhood Revitalization (CDBG-NR #20-C3633); staff said this procurement resulted from two RFP attempts and only one responding firm. The council also accepted Sanford Holshouser to provide bond counsel services (Resolution 22-83) to assist with an application to the NC Local Government Commission for revenue bonds intended to help close a roughly $15 million funding gap for the KLRWS expansion; bond counsel fees will be paid from KLRWS reserves.
Council unanimously approved Resolution 22-80 to rename E. Winder Street in honor of Eddie James Hicks and directed staff to coordinate address-change logistics with the Postal Service and county agencies.
