Accounts payable audits are important for businesses to keep check of not only possible internal revenue leaks but general spending flaws as well. The cities of Santee, South Carolina, and Scottsdale, Arizona, underwent AP audits this month which revealed positive results for the East Coast town but major gaps in budget within the Southwestern municipality.
Santee, a town that is home to premium fishing, according to South Carolina’s Department of Parks, Recreation and Tourism, apparently has a strong handle on its finances and ended 2012 with more funds than expected, as reported by The Times and Democrat.
Bob Faulkner, a resident accountant, reiterated that the audit results were extremely positive. With the new fiscal year’s budget in place, the good spending habits by town authorities will allow for the building of a nature trail featuring man-made workout gear along hiker’s walks. The Times and Democrat says Santee is setting aside $6,250 for project, which was made possible by a $5,000 Parks and Recreation Development stipend and an additional 20 percent increase from the town’s budget.
Scottsdale, Arizona, on the other hand, did not show to be performing within its means when it came to the city’s WestWorld Center, an event venue the municipality took over from previously private owners in hopes of bringing more funds to the area, according to The Republic. The source says the city has spent between $335,000 and $878,000 per year over the last half decade on running the center.
Bob Littlefield, a Scottsdale city councilman, says that he has a positive outlook moving forward thanks to the revenue created by equine events and the annual Barrett-Jackson auto show hosted by the WestWorld Center.
“The numbers certainly indicate that the horse shows and Barrett-Jackson bring in a lot of money to the city and to our businesses,” Littlefield said.
The source notes that improvements which were paid for in the city’s 2012 budget will allow the center to stay open year round thanks to climate control technology now being installed.