Walkersville Audit Shows Strong Finances
The Town of Walkersville hired auditors to review its finances, and received the report from auditors Wednesday evening. Smith Elliot Kearns and Company, LLC audited the town’s records before presenting its report during the Walkersville Town Meeting.
Revenue for the fiscal year ending June 30, 2015 exceeded budgeted expectations by more than $550,000. Cash in the Town’s General Fund increased more than $630,000 compared to last year.
The extra funds will help pay for the new water treatment plant Walkersville will be building. The reverse osmosis membrane filtration water treatment plant is projected to cost nearly $6,000,000. The plant is in the design stage.
The Town of Walkersville holds no debts. Auditors reported that the Town is in good shape, but warned that plans to self-finance the new water treatment plan may be difficult.
Walkersville is expecting another large influx of funds. Mark Lynch, the owner of Walkers Overlook, owes a balloon payment of $366,000 for the property and buildings he bought from Walkersville, which financed part of the purchase. The payment was due several months ago, but the Town Commissioners have allowed the payment to be postponed while continuing to charge interest on the loan. 
