In addition to passing several resolutions during its monthly meeting on Nov. 26, the Morristown Utility Commission revealed and unanimously approved the results of its yearly audit.
The annual audit, conducted by Coulter and Justus, an accounting firm out of Knoxville, found no adjustments nor financial improprieties. Clark Rucker, assistant general manager and chief financial officer for Morristown Utility Systems, explained the results of the audit in laymen’s terms.
“If we say we made $12 million, for example, (Coulter and Justus) would say it’s correct,” he said. “They take a deep look, a higher-level look at our financial control and whether or not we’re handling our finances correctly.”
As a public utility service, Morristown Utilities credits a conservative fiscal policy for the results of the audit.
“As a public service, you’re dealing with the public daily, so you want to use (the funds) as conservatively as possible and as wisely as possible,” Rucker said.
Rucker said with the added responsibility of Morristown Utilities taking over FiberNET, among other departments, having a clean audit became even more important. He also thanked all the employees for contributing to the success by producing a safe work environment that prevented injuries, saving money in the process.
“Taking control of the server and FiberNET, it wasn’t an easy undertaking, but we have good department heads and everyone had a part,” he said. “It’s just one more thing people keep in mind about how we handle our finances.
“It’s about safety and financial responsibility, and it takes a lot of people to make it work.”
Morristown Utilities handles about $116 million dollars yearly through its various platforms. Despite keeping just $.15 cents per dollar generated, Rucker said that’s still a great deal of money to keep track of.
“It’s a lot of work,” he said. “Like an audit, there are a lot of eyes looking at you, so everything has to be done correctly.”
The board also approved several telecom projects during the meeting, including a network firewall security zone project, as well as approved contracts totaling nearly $496,000. In addition to approving the audit, the board also approved a resolution for cleaning services at Morristown Utilities.