Lockney City Hall (Alex Driggars/Floyd County Record)
LOCKNEY – The firm that oversees the City of Lockney’s finances is very happy with where the city is financially.
On Tuesday morning Lockney City Council members heard from Ryan King from Terry & King CPAs about their 2021 audit report. “Y’all had some money and you spent it,” King told the council following recent purchase including equipment to restart the Lockney Police Department, new fire and EMS equipment and a garbage truck.
King said overall cash on hand for the city was up, and that they had 100 percent collections on ad valorem, or property, taxes. He said the cash reserves could fund the city at their current budget for six months, and in the opinion of his firm three months is considered very good.
City attorney Lanny Voss asked King his opinion on how things looked. “Given our grant activity, are these numbers healthy and good?”
“Yes sir, the city is being managed on a financially prudent level,” King replied.
