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Story Archives: OCOG deficit on agenda Monday


OCOG deficit on agenda Monday
posted Wednesday, February 25th, 2009 @ 10:30 pmE-mail Story E-mail Story | Print Story Print Story 
The Ouachita Council of Governments will review several recommendations from its auditor concerning its $40,000 deficit.

OCOG will conduct a special meeting noon, Monday, March 2, where it will discuss the issue as well as review local road projects that have been submitted for funding through the federal economic stimulus package.

OCOG executive director David Creed said the deficit has been reduced from $59,500 to roughly $40,000. The deficit first arose in early 2007.

According to certified public accountant Francis Huffman, who conducted OCOG's audit, the city of Monroe and Ouachita Parish Police Jury failed to pay their annual contributions to OCOG for the past several years. OCOG is comprised of members of both cities and the police jury.

Huffman will discuss the deficit with OCOG Monday. He previously told OCOG that to remain financially sound, it must retire the debt and have at least $25,000 in its fund balance.

"We've had long conversations with Francis Huffman and his staff and he has some recommendations for ways to correct this," Creed said. "He's got some reasonable explanations and recommendations."
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