Water district receives a clean audit

By Marlene J. Bohr
mbohr@steelcountrybee.com

Lanny Walker with Arnold, Walker and Walker presented the audit information to the Northeast Texas Municipal Water District board of directors at its Jan. 27 meeting. The board accepted the audit as presented.
“This is a clean opinion, and everything is normal,” Mr. Walker said.
The audit shows the district has slightly over $48 million in assets and there are liabilities of slightly over $32 million. The assets exceed the liability by slightly over $16 million.
Assets would be water treatment plants, the pipeline system and water rights that are held in Lake O’ the Pines. The liabilities would include the debt that was borrowed to build some of the assets.
The audit confirmed that the district was about $19,000 better than budgeted for the year ending Sept. 30, 2013.
The board discussed the problems with Giant Salvinia and possible help from the Corps of Engineers to address the problems. The board authorized a memorandum of understanding involving federal, state agencies and the district to try to minimize the effects of Giant Salvinia.
 

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