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Coats board approves fund transfers, adds signatories and responds to LGC concern
Summary
The Board approved several fiscal measures: adding Mayor Chris Coats and Mayor Pro Tem Kelvin Gilbert as bank signatories, approved the LGC response about infrastructure investment, and closed the Solid Waste fund with a $170,675.59 transfer to the General Fund.
Finance Director/Town Clerk Connie Lassiter presented multiple finance items on Feb. 12. She recommended adding two Board members as additional authorized signatories on Town bank accounts (in addition to the Finance Director and Town Manager); the Board resolved to add Mayor Chris Coats and Mayor Pro Tem Kelvin Gilbert.
Lassiter also explained a Local Government Commission (LGC) performance indicator concern that the Town needed to be investing more in infrastructure; she clarified this "was not an audit finding, but a concern from the LGC" and said completed water-line work will be capitalized this fiscal year. Finally, Lassiter requested closing the Solid Waste fund and transferring a balance of $170,675.59 to the General Fund; the Board approved the transfer and associated resolution.
