SEMINOLE — The city of Seminole is in good financial condition, and its coffers are ample, council members learned April 13.
The city of Seminole has “maintained a very sound financial condition,” auditor Peter Schatzel said in presenting the annual audit for the year ending in September 2020.
With a balance of $7.6 million in the general fund, Schatzel said Seminole had a reserve of about five months, which he termed “a very reasonable amount.” That includes a capital outlay of $545,000. The city ended the year with a surplus of $1,472,000, while it had budgeted for a deficit of $268,000. The surplus arose because the city spent $1.6 million less than planned.
He added that the audit did not find “any unusual or unsupportable transactions.”
The firefighters’ pension trust fund showed an increase in equity of $754,000, Schatzel said. The previous year there was a $327,000 decrease in equity.
Mayor Leslie Waters said the audit showed the city was once again debt-free.
In other news
• The council voted to award a contract for $1.6 million to Keystone Excavators Inc. for road improvements to Johnson Boulevard, Liberty Lane and 80th Avenue.
Improvements in the roads’ curbs and gutters are included in the contract, staff said. However, there was not enough space to add sidewalks to the area. Construction is expected to be completed by late September.
• City Manager Ann Toney-Deal presented certificates to several city employees for their achievements.
Matthew Sabella and Edward Mui received certificates from the Florida Government Information Systems Association for their 15 years of service. Both men are members of the Finance Department IT staff. Mui is an information specialist and Sabella the IT/IS manager. Toney-Deal said the men also staff the Emergency Operation center during emergencies.
City Clerk Ann Marie Mancuso was presented a certificate from the International Institute of Municipal Clerks marking her formal designation as a Certified Municipal Clerk.
Toney-Deal remarked that Mancuso had been secretary to the city manager before her promotion to city clerk.