September 13, 2013
At last evening’s City Council meeting, our auditors reported on the 2012 audit of the city. I am pleased to report that there were no findings or recommendations. This marks the fourth consecutive year the City has received a “clean” audit. This is an outstanding accomplishment and speaks to the competency and professionalism of our team members in each and every department.
The auditors described the overall favorable financial position that we are in. We continue to maintain a healthy fund balance and a responsible debt service schedule into the future. We have been able to accelerate our investment in capital improvements while avoiding large spikes in debt service by following the advice of our financial professionals and taking advantage of favorable market conditions.
I would like to acknowledge the sound policy decisions made by the current and former City Councils and Administrations. Ocean City has managed to maintain services and remain financially sound through a significant economic downturn and a period with two major storms. We are well positioned for the future.
This weekend you and your family can enjoy two free airshows! The Annual Airport Festival at the Municipal Airport will be held Saturday from 10:00 am until 3:00 pm. Then on Sunday some of the best stunt pilots in the world will perform over the ocean from 6th to 14th Streets beginning at 1:00 pm and ending at 3:00 pm.
Have a great weekend!
Jay A. Gillian