The Columbia City Council meeting on Oct. 16 featured yet another “clean opinion” of the city’s finances and accounting practices. 

Jim Schmersahl of the Schorb & Schmersahl accounting firm delivered the annual audit report for the previous fiscal year. 

The overwhelmingly positive report showed the city’s net position of cash and investments at $23.5 million, up from $18.3 million from the prior year.

Schmersahl quipped, “An old (Certified Public Accountant) once told that all this accounting and accrual stuff is fine, but cash is king. And so in this particular instance, I’m pleased to say that the ‘king’ went up $5.3 million,” indicating a positive financial year for Columbia.

While part of the significant increase was a result of a one-time lease payment for a cell tower land lease and American Rescue Plan Act fund disbursements, Schmersahl pointed out other gains are not due to the city simply saving its money. 

He said Columbia “invested significant dollars into the infrastructure of the city.”

Approximately $1.8 million was spent over the past year for projects and equipment, including over $1 million for work on Quarry and Centerville roads and Old Route 3. 

Additionally, the city purchased two police vehicles for $130,000, $80,000 for work on the GM&O Heritage Trail, $30,000 for a pickleball court and approximately $360,000 for a water main replacement, several vehicles, commercial mowers and ambulance equipment and upgrades.

With those investments, the city’s asset additions exceeded its depreciations.

“Over time, that’s an indication of the city not allowing its asset base to deteriorate, but instead continuing to reinvest to ensure that things stay modern and appropriate,” Schmersahl explained.

The only negative to report was the state of the city’s funding of various pensions. While Columbia has been over-funded in that area in recent years, it was slightly under-funded last year.

Schmersahl was not too concerned with the issue, as he said upward market trends should improve the city’s position moving forward.

Schmersahl also said conducting the audit was “business as usual,” praising city staff and city treasurer Linda Sharp for their work in keeping accounts of city finances in order.

At the beginning of the meeting, the city gave Songs4Soldiers founder Dustin Row a $2,500 tourism grant for his continued efforts in bringing the annual benefit concert to Bolm-Schuhkraft Park.

Row addressed the council, thanking the city for being accommodating and “easy to work with” and thanking the Columbia Department of Public Works and emergency departments for their part in making the annual concert a success.

Row reported this year’s concerts raised $290,000 for veterans – $40,000 more than the previous record. 

Row also said the 2023 event was the first to reach “capacity” of just over 5,000 attendees during the show on Sept. 15 that featured country music star Travis Tritt.

In other business, Alderman Lauren Nobbe reported she had submitted the final version of a grant application which would help fund a proposed dog park at the south end of Admiral Trost Park on Parkway Drive. 

She added the finalists for the grant will be announced at the end of the month.

A discussion of a community unit plan overlay for a residential condominium development at 1712 Ghent Road was rescheduled for the Nov. 6 council meeting at the request of the applicant.