Wisner’s net position rises to $1.6M

The total showed a slight rise from the prior’s year total of some $1.646 million.

Net position is a good indicator of the town’s longterm “financial health.” Largest portion of Wisner’s net position (97.6 percent) was invested in capital assets. Net position invested in capital assets consisted of land, buildings, equipment and infrastructure less any debt used to acquire the assets.

The audit reported approximately $2.4 million in capital assets followed by $212,905 in current and other assets.

Lessening its net position was longterm liabilities totaling $925,540, and current and other liabilities coming to $99,460.

Revenues for the town amounted to $965,468 up from the prior year’s total of $684,744.

Revenues were up but also expenses were up, totaling $981,660. The previous year’s expenses equaled $846,636.

According to the audit, Wisner spent was most on its public works at $583,757.

The police department’s expenses totaled $239,443, up $68,125 from the previous year which gave the town’s largest annual jump in costs. 

Wisner also spent $125,896 in general government.

All three of the town’s largest expenses, police department, public works and general government showed an increase in spending for the fiscal year ending June 30, 2022.

The American Rescue Funds assisted the town’s revenues, injecting $166,434 into it coffers.

During its fiscal year, Wisner totaled $575,959 in charges for services and collected $99,420 in sales tax.

In property taxes, Wisner made $21,571; insurance premium taxes - $22,330; franchise taxes - $23,225 and occupational licenses - $12,968.

Wisner also totaled $37,036 in operating grants and contributions, according to the audit.

Rozier, McKay & Willis Certified Public Accounts of Alexandria performed the audit and listed two findings.

2022-001: Budget Violation

Louisiana Revised Statutes prohibit unfavorable variances from exceeding five percent of budgeted amount. Wisner did not make sufficient amendments to the budget once the town realized that unfavorable variances exceeded five percent of budgeted amounts.

The auditors recommended Wisner would implement policies and procedures to ensure that the budget is amended whenever variances exceed amounts allowed by the Louisiana Government Budget Act.

2022-01: Non compliance with bond covenants

In exchange for fees, Wisner provides residents with utility services including water and sewage disposal. The operations of the utility system has not produced sufficient income to recover the cost of operations and service debt incurred to construct the utility system. Due to the age of the system, repair and maintenance costs have been significant.

The auditors recommended that in order to provide income necessary to sustain operations and repay creditors, town officials alter Wisner’s utility rate structure to provide additional revenue needed to meet the utility system’s obligations.

During the fiscal year ending June 30, 2022, Marc McCarty was mayor. Jo Caldwell, Nettie Brown, Roger Hillard, Debra Lemle, Thomas Lemle and Elliot Britt were Town Council members.