The Haleyville City Council met Monday and approved the regular operating bills and purchase orders for July in the amount of $430,413.77. The non-educational tax abatement for American Manufacturing which had been previously discussed was approved for a 10 year period.

The purchase of two police cars was approved from the low bidder, John Carpenter Ford in Moulton for a total cost of $46,930.44. The other bid was from Long-Lewis for $49,240.00.

Mayor Ken Sunseri read a portion of the financial statements for the city’s fiscal year which ended September 30, 2015. The report highlights stated the City’s net position exceeded its liabilities by $8,221,607. At the government-wide level, total assets and deferred outflows of resources increased by $3,076,078 and total liabilities and deferred inflows of resources increased by $1,691,941 from the prior year.

The City’s governmental funds reported a combined ending fund balance of $3,428,292, an increase of $431,539 from the prior year. The portion of the total ending balance that can be spent at the City’s discretion is $2,581,104 and is presented as unassigned fund balance in the governmental fund’s balance sheet.

Total revenues for the City’s governmental activities increased by $199,267, or 2.5% from the prior year. The City recorded a gain on disposal of fixed assets of $1,247,269 which was largely due to the sale of the old City Hall building.

Total expenditures for the City’s governmental activities decreased by $154,458, or 2.58% from the previous year. The majority of this decrease is due to lower interest costs due to the refinancing of long-term debt in the later part of the year.

You can get a complete copy of the financial report with a request to city hall.

The next meeting of the Haleyville City Council will be Tuesday, September 7, postponed from the day before because of Labor Day.