PlanetRockwall.com

City of Rockwall in Strong Financial Position

The City of Rockwall is in a strong financial position, according to findings in a recent audit.

Maintaining a 40 percent reserve fund puts the City in a good position to face whatever may happen in the next year, said Lewis Crain with the firm of Rutledge Crain & Company, PC.

"We recommend a minimum of 25 percent of a city's current expenditures, which is only 90 days," said Mr. Crain, who conducted the audit. "Rockwall is in pretty good shape."

Crain added that he was pleased the way the city's financial program turned out, noting that "it's good being more conservative."

He also stated that if he were going to "weather a storm," Rockwall was the city he would want "to weather it in."

City Finance Director Mary Smith said she was pleased Mr. Crain issued a clean opinion and didn't find any material weaknesses in internal controls to bring to city council's attention.

City of Rockwall News
Rockwall.com
Rockwall, Texas