Buffalo Council Approves Proposal For Financial Statements

Buffalo Council Approves Proposal For Financial Statements

Buffalo's City Council, at Tuesday Evening's meeting, approved a proposal from Dooley and Jelly, CPAs to provide financial statements to the city, in addition to the annual audit services they already are contracted for.

Tracey Jelly gave the proposal to the council and was on hand to answer questions, saying the financial statements would be difficult for City Clerk Julie Silbernagel to do, and by his company doing the statements it would help expedite the city's yearly audit.

Mayor Randy Dyess, Clerk Silbernagel and Jelly discussed the proposal at the meeting.

The cost to the city will be $9,800 for this year and $4,800 for 2013, when the current agreement with Dooley and Jelly expires.

Services provided by Dooley and Jelly will be (1) receiving data from Caselle, (2) inputting adjusting entries, and (3) preparation of financial statements and all requiered disclosures to meet requirements for modified cash basis of accounting.

The new requirements are in place since Buffalo became a First-Class City with a population over 4,000 people with the 2010 census.

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