At Monday night’s meeting, the Madisonville City Council received positive news regarding the city’s audit, as Certified Public Accountant Theresa Jones reported a clean, unmodified opinion with no issues found.
During her audit report, Jones also shared that the city is in a strong net position, with its total net position increasing by approximately $17 million from the previous year.
click to download audioShe reported that cash and assets have increased, while liabilities have decreased.
click to download audioJones noted that the increase in assets and decrease in liabilities are positive indicators, describing this as a favorable trend and the right direction for the city.
She stated that the city is in a strong position regarding its unassigned fund balance.
click to download audioThe City Council approved the audit report, as well as the second readings of ordinances concerning established committees and sign regulations.
The Council also approved a resolution opposing any bills brought forth during the 2025 Kentucky General Assembly session by any member of the state legislature that provides for the mandated centralized collection of local occupational fees/taxes by the Commonwealth of Kentucky or other third parties, that Mayor Kevin Cotton explained was given to the city by the Kentucky League of Cities.
click to download audioThe resolution passed by a 5-1 vote with Ward 3 Councilman Adam Townsend casting the sole nay vote.
WFMW’s News Edge have more from the Madisonville City Council meeting in the coming days.
