Board of Mayor & Aldermen

City of Dyersburg Board of Mayor and Aldermen Tuesday, January 17, 2023 1. Call to Order: The Board of Mayor and Aldermen met for their regularly scheduled meeting on Tuesday, January 17, 2023, at 7:00 p.m. in the Dyersburg Municipal Court Room. Mayor John Holden called the meeting to order. All members were present except for Alderman Ricky Hammonds. The meeting opened with a prayer by Alderman Edward Burks. 2. Approval of Minutes: Mayor John Holden called for a motion to approve the minutes from the January 3, 2023, meeting. Alderwoman Vanedda Webb made a motion to approve the minutes and Alderman Edward Burks seconded the motion. All voted in favor. 3. Unfinished Business: None 4. New Business: A. City of Dyersburg Audit Report for the year ended June 30, 2022 -Chloe Humphrey Chloe Humphrey of Cowa11 Reese Sargant presented the results of the 2022 City of Dyersburg audit. The audit period covers the fiscal period beginning June 30, 2021. As of June 30, 2022, Humphrey says the city's total net position increased by $13.9 million. "That's combined proprietary funds and governmental activities of the City," Humphrey explained to the board. "The governmental fund balances-that does not include any business type funds-increased by $3 million. All of the City's funds or expenditures were within budget this year, so we do not have a budgetary finding this year as we have in the past ... we were happy to present that. "You will see in some of the comparisons that there was an increase in assets," Humphrey continued. "I wanted to address one little piece-well the bulk of that-and it's related to the net pension asset that is repo1ied on the school's report. There was a $13 million increase in that number this year. You can find a lot more on it in the school's report; that is a reflection of the total increase in assets of the governmental activities of the City. I know a lot of what y'all have been dealing with over the last few years has been from money coming in from various grant sources and public money...so, I don't typically point this out to you because it's a compliance piece that we don't really spend a lot of time on, but there is a SEFA (Schedule of Expenditures of Federal Awards). This is our schedule of expenditures related to state and federal expenses. Humphrey directed the board to pages 143-144 of budget, where they were able to read the schedule of expenditures.