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The Helena Arkansas Daily World - Helena, AR
  • Council member displeased with treasurer's report

  • According to Helena-West Helena City Council member Marvin Jarrett, the cash on hand amount cannot be a true reflection of cash available to pay the current debt because three restricted accounts are shown in the cash-on-hand amount in the city treasurer's report that was presented at Tuesday night's council session.
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  • According to Helena-West Helena City Council member Marvin Jarrett, the cash on hand amount cannot be a true reflection of cash available to pay the current debt because three restricted accounts are shown in the cash-on-hand amount in the city treasurer's report that was presented at Tuesday night's council session. “Therefore the report is wrong. I say the report is bogus!" exclaimed Jarrett. According to the report, it is stated that the cash on hand was $319,116 as of Oct. 31 and revealed that accounts payable as of Oct. 31 had $866,583. However, according to Jarrett, three restricted account amounts were presented as cash on hand, meaning a possible availability to be used to pay the reported current debt of $547,467. “It just gives you the picture of what the current debt situation is,” commented Councilman Jay Hollowell. Jarrett argued that the report doesn't reflect the current debt figures and shouldn't be called or reflected as such in the report. “If you subtract it from the debt of Dec.31, 2010 all of this is not clear and/or misleading,” commented Jarrett. Hollowell asked what Jarrett was requesting, and Jarrett replied, “I'm requesting that the city treasurer report how much of that cash on hand can go or is going to go to the reported debt.” Arnell Willis reported the Legislative Audit team continues to compare the 2010 audit report with the 2012 audit to ensure that it is done right and the city is “Not doing the same thing in 2012 that got us written up in 2010.” The city council will meet on Dec. 3 and Dec. 11 for budget workshops that is expected to include the newly elected council members.
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