LC Annual Comprehensive Financial Audit Report released - KPLC 7 News, Lake Charles, Louisiana

LC Annual Comprehensive Financial Audit Report released

LAKE CHARLES, LA (KPLC) -

The City finances have undergone an annual audit. The findings from that audit were presented to the Lake Charles City Council Tuesday night. 

Council members carefully looked over the comprehensive Annual Financial Report for 2010. The man in charge of the checks and balances - Marty Chehotsky - with the McElroy, Quirk and Burch firm. He's been looking over the books and statements for more than 4 months.  

"I report a clean and qualified opinion on financial statements, which is pretty much the best opinion you can get. There were not any modifications required," said Chehotsky. 

According to the audit report, the City of Lake Charles has $379,703,029 in assets. This does not include an additional $3,100,000. Net assets were up $12,450,000. A separate audit found all requirements were met for the $9,750,000 in federal grants received.

Despite tough economic times, the city's reserves are more than sufficient should they need to be tapped into.

"Because of the excellence stewardship by the mayor, city council and staff - the financial condition of the city is sound," said Chehotsky.  

Having heard the financial outlook the council is pleased. "This is an outstanding report - very detailed and every penny accounted for," said Rodney Geyen, Lake Charles City Council President.  

Keeping track of all those pennies is City Finance Director Karen Harrell. Her staff's work got the city it's 25th consecutive Certificate for Excellence in Financial Reporting. The S&P also rated the city's bond issues an A+. 

"This is something that will continue to help with future financing. It's great if we can go through a bond rating process like we have, whenever we've issued our bonds. The fact that our reports are up to standards is a big benefit to us and the bond rating agencies really look at that," said Harrell.  

Copyright 2011 KPLC. All rights reserved.

  • More Local NewsNewsMore>>

  • Support group for SWLA caregivers offers chance to learn and grow

    Support group for SWLA caregivers offers chance to learn and grow

    Monday, December 11 2017 11:59 PM EST2017-12-12 04:59:55 GMT
    Source: Christian PiekosSource: Christian Piekos

    It might be one of the most under appreciated jobs: caring for a loved one at the end of life.  Sherry Livingston's parents are 85 and 82. They're suffering from Alzheimer's and dementia. "It's a privilege to be able to walk with them in the last days of their journey," said Livingston. "But, it's taken a toll." Livingston said she spends hours every day caring for the basic necessities of her parents. "Seeing them go downhill, they're not the people ...

    More >>

    It might be one of the most under appreciated jobs: caring for a loved one at the end of life.  Sherry Livingston's parents are 85 and 82. They're suffering from Alzheimer's and dementia. "It's a privilege to be able to walk with them in the last days of their journey," said Livingston. "But, it's taken a toll." Livingston said she spends hours every day caring for the basic necessities of her parents. "Seeing them go downhill, they're not the people ...

    More >>
  • "Revenge porn" victim speaks out after ex-husband is convicted

    "Revenge porn" victim speaks out after ex-husband is convicted

    Monday, December 11 2017 10:38 PM EST2017-12-12 03:38:06 GMT

    A Louisiana man is headed for prison under a new law aimed at fighting cyberstalking and his target is speaking out. A judge sentenced 39-year-old Wesley Ballew of Ruston to two years in prison and three years of supervised release, as well as $7,500 in reparations. Prosecutors say he posted nude pictures of a woman on various websites. Ballew is the first person convicted in the state under the new cyberstalking law enacted in 2015. The victim is now speaking out in hopes she can...

    More >>

    A Louisiana man is headed for prison under a new law aimed at fighting cyberstalking and his target is speaking out. A judge sentenced 39-year-old Wesley Ballew of Ruston to two years in prison and three years of supervised release, as well as $7,500 in reparations. Prosecutors say he posted nude pictures of a woman on various websites. Ballew is the first person convicted in the state under the new cyberstalking law enacted in 2015. The victim is now speaking out in hopes she can...

    More >>
  • Christmas spirit brings agencies together for families in need

    Christmas spirit brings agencies together for families in need

    Monday, December 11 2017 10:27 PM EST2017-12-12 03:27:49 GMT

    why would the coast guard, catholic charities and some realtors with Moffett, latter and BLum be collaborating on a project.    well, KPLC'S Theresa Schmidt reports it has to do with the spirit of the season. here removed from the hustle and bustle of their usual work come the coast guard, catholic charities and realtors with Moffett, latter and Blum. they are making Christmas for families ... not people who have asked for help, but those others have seen need help. &nbs...

    More >>

    why would the coast guard, catholic charities and some realtors with Moffett, latter and BLum be collaborating on a project.    well, KPLC'S Theresa Schmidt reports it has to do with the spirit of the season. here removed from the hustle and bustle of their usual work come the coast guard, catholic charities and realtors with Moffett, latter and Blum. they are making Christmas for families ... not people who have asked for help, but those others have seen need help. &nbs...

    More >>
Powered by Frankly