To view the entire meeting, visit https://youtu.be/-Hx-5ax5v3A.
Finance Director Jonathan Perkins and David Hampton of Kemper CPA Group, LLP provided an overview of the City’s Annual Comprehensive Financial Report which includes the City audit. The audit is required by State law; however, the Report is a voluntary document that the City prepares to provide additional information and transparency to the public. The report is for the fiscal year that ended June 30, 2021. The audit states that there are no findings of deficiencies related to the financial statements. Paducah is one of the few cities in Kentucky that prepares a Report. For 30 consecutive years, Paducah has been awarded the Certificate of Achievement for Excellence in Financial Reporting from the Government Finance Officers Association of the United States and Canada (GFOA). The entire Report and previous audits dating back to 2001 can be found on the City’s website.
The Paducah Board of Commissioners approved an ordinance outlining annexation incentives to attract commercial, industrial and residential developments into the City of Paducah. These incentives are to “advance the conversation of voluntary annexations.” The consensual annexation of property will increase Paducah’s population and revenue tax base which will enhance Paducah’s economic well-being and aid in the maintenance of existing infrastructure and facilities. In preparing this ordinance, the Planning Department reviewed the annexation incentives for several Kentucky cities. The incentives, which would be outlined specifically in a Memorandum of Agreement with the property owner, could include the following:
###