Town of VH gets passing grade from auditor; Jubilee produces financial bonanza

BY LISA MORTON AND ROBERT MORALES

The Town of Van Horn city council on Tuesday received news that the city’s financial health is in very good condition, according to an annual audit performed by Knapp & Company from Dallas.

Rick Knapp told the council that he had rendered an “unqualified opinion,” the best outcome possible. An audit is performed to measure the level of competence of management’s financial reports, and how management is best able to spend tax dollars in the most prudent and efficient manner.

The unqualified opinion generally states that the auditor has examined all pertinent reports and information as presented by management, and that the opinion is in accordance with General Accepted Accounting Principles (GAAP).

Council members received more good news after reviewing the financial impact this year’s Jubilee had on the Town of Van Horn. The city invested about $6,100 out of a $7,500 budget. Overall, the city realized a net result of $143,157. This number is broken down to account for hotel/motel receipts, sales tax and mixed beverage sales.
It is important to note that the Jubilee’s success would not have happened without the countless hours put in by Jubilee Committee and the many volunteers that assisted.

For example, in June 2014, the Hotel/Motel Occupancy Log showed collections of $696,152, whereas in June 2015, that number increased to $818,785. As for hotel-motel taxes paid, in 2014, these establishments pad $46,259, while that number increased to $54,380 in 2015.

Year-to-date sales tax receipts total $62,615 in 2015, whereas that number for 2014 was $42,217.

In other action, council:
•Approved a proclamation to name National Farmer’s Market Week Aug. 2-8;
•Approved a resolution to give the Texas Department of Transportation permission to conduct a traffic condition study at the intersection of Hwy. 90 and I-10 overpass;
•Approved invoice from El Paso Electric to install street light overhead transformers on West Honeysuckle to provide lighting near the Housing Authority;
•Approved various items for Convention Center renovation, plan grand opening;
•Discussed city swimming pool lifeguard guidelines for summer 2015;
•Approved the selling of dumpsters that cannot be repaired, about 30;
•Tabled an item to have council approve quote from Tony Rocha to construct speed bump near Pilot for safety purposes