General fund grows, utility fund suffers loss
The Town of Lockhart met for their regular monthly meeting Tuesday night. Tom Nielson with McKinley, Cooper, and Co. presented the town’s audit report. The town received an unmodified opinion, which is the highest and best opinion they could get. Nielson said everything was pretty much in line with last year. He said the town has no debt, which is a good thing. The government activities fund increased by nearly $90,000, while the business-type activities fund saw a decrease by around $92,000. Nielson said the town’s unassigned balance of $120,405 represents around 8 months of the town’s operating expenses, so they are in good shape with their fund balance. The utility fund saw a heavy loss of $158,100. After grants were factored in, the fund posted a loss of $91,916. He said the day-in and day-out operating activities for the utility system showed a $7000 loss. Water loss due to leaks and an increase in the rate Brown’s Creek charges the town that the town didn’t pass on to customers was likely to blame for the shortfall. Nielson said the town could consider raising its rates to cover that shortfall next year.
In other news from the meeting, the council discussed a storm drain cover at 202 South 5th Street, but they were unsure if that was the town’s responsibility or the SCDOT’s responsibility. They plan to check with the DOT and find out.
They discussed final preparations for this Saturday’s Spring Fling event in the town. It will be held in the parking lot of the Town Hall and surrounding areas Saturday from 11-3. They will have free hot dogs and hamburgers, a bounce house, a dunking booth, corn hole, and more. Pastors from Lockhart-area churches are helping with the event.