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Sharpsburg has surplus

December 02, 1997

Sharpsburg has surplus

SHARPSBURG - The town of Sharpsburg ended the last fiscal year with a $29,675 surplus, according to Michael P. Manspeaker of Smith Elliott Kearns & Co.

Manspeaker gave the mayor and Town Council a financial report on Monday night for the fiscal year ending June 30, 1997.

The town's general fund was strong and healthy, he said.

Manspeaker recommended the town close a separate bank account maintained by the tax collector to prevent any improprieties, although no problems had occurred.

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Instead, the town's tax collections should be handled through the general account, which has been remedied, Manspeaker said.

He also recommended the town's accounting system be changed to reflect uncollected taxes. It had only noted tax collections once they had been collected in cash, he said.

Mayor George Kesler said the town's financial records are now being handled on a computer, rather than manually, so records will be easier to review in the future.

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