Lake Waccamaw’s audit showed no major issues for Fiscal Year 20-21, and a boost in sales at the ABC store aid dividends for the police, fire department and library.
Accountant Alan Thompson of Thompson, Price, Scott, Adams & Co. told the board in its regular monthly meeting that his firm found no immediate issues with the area’s annual audit. Thompson also advised the board on how to prepare for future changes to nationwide standards when reporting property leasing. The new protocols for these standards are set to take place on June 30 for all municipalities.
Brent Jernigan, chairman for the ABC board, also attended the meeting to hand out checks to local entities from alcohol sales in the area. State law requires a percentage of profits from ABC stores be returned to their home municipalities for use in the community. The ABC Store was established in Lake Waccamaw in 1967 and for many years had always “broken even” according to Jernigan.
“The past few years, we have been able to give our proceeds, distributions as they call it, to the county, the city, the police department, the fire department, and two of the local libraries,” he said.
Checks totaled from $2,285 to $28,602, and were presented to new Mayor Matt Wilson from the chairman.
The fire department received $2,851; Lake Waccamaw Police, $2,285; the county, $25,743; and the town received $28,602. The amount for the town was well over the $14,000 in revenue from the previous year. The donation to the library was amount included in Tuesday’s presentation.
A steering committee has been assembled for the bike and pedestrian that will soon take place in Lake Waccamaw. Town Manager Damien Kempski said that he had “spoken to the candidates for the committee” and it looked like they were all “on board.”
Commissioner Rosemary Dorsey was unanimously voted the elected official to help lead the group that will guide the output of the two-year study. A state grant of $45,000 was given to the town last September to fund the study.
