LITTLE MOUNTAIN — Tim Cornelison presented a clean opinion with no findings as he reported the Town of Little Mountain’s audit for the Fiscal Year ending June 30, 2017 Tuesday.
“Your cash count went up from the prior year. You have an accrual income statement and cash income statement. On the accrual side you have depreciation which is a non-cash expense so our cash went up even though on the accrual side we’re showing a loss of $32,000 on the accrual side,” Cornelison said.
In that $32,000, Cornelison said there is $57,000 in non-cash expense and the cash went up, but the depreciation had to be recorded which made the equity go down by 32.
“I first look at cash and then I look at current assets because that’s either everything that is cash, or can be turned into cash in the next year and I compared it to current liabilities which is going to be an outflow of cash,” Cornelison said.
The current assets are $140,000 and current liabilities are around $8,700.
In other business, community member Alex Metts approached Council about the possibility of using an area in town to stage a portable saw mill. The lot in question is currently zoned as R-45 Residential, so if the portable saw mill was placed there the zoning would have to change. The lot is located behind a brick house that faces Mountain Street on the corner of Mountain Street and U.S. 76.
Mayor Jana Jayroe suggested that Metts speak with the owners surrounding the lot for their opinions on the project, then come back to Council to discuss possible rezoning of the lot.
“I think it’s a good idea and I think you will have a good market here for it, but I’m just worried about how it would look,” Jayroe said.
• Maj. Dan Gilliam with the Newberry County Sheriff’s Office came before Council to discuss putting a lock on their office in Little Mountain. Councilman Melvin Bowers made the motion to accept putting the lock on the building. Councilman Charles Shealy seconded.
• Council passed the first reading of an ordinance pertaining to the purchase of three lots from Caroline Frick, through John Frick after a motion from Councilman Jeff Jeffcoat and a second by Bowers.
• Jayroe advised Council that an engineering company, Chow Engineering, is interested in completing the town’s North Street Church Extension project. A motion was made by Bowers to complete the feasibility study for $2,500 followed by a second from Shealy.
Reach Kelly Duncan at 803-768-3123 ext. 1868 or on Twitter @TheNBOnews.