02/05/13 — Report: Pikeville receives clean accounting bill of health

View Archive

Report: Pikeville receives clean accounting bill of health

By Dennis Hill
Published in News on February 5, 2013 1:46 PM

PIKEVILLE -- The town of Pikeville received a good report from the company that performed its most recent audit at the town board's meeting Monday night.

Sheree Klepchick, of the accounting firm Petway, Mills & Pearson of Zebulon, told board members that the town received the highest rating possible on the report that covered the period ending June 30, 2012.

The town has $850,682 in its general fund, about $5.9 million in its water and sewer fund and about $1.68 million in its electric fund, with outstanding debts totaling about $2.5 million.

In other business, the town board voted unanimously to amend the town's ordinance governing the speed limit of trains passing through the town. The amendment calls for the town to adopt whatever speed the federal government assigns.

Mayor Johnny Weaver said the town had no real say in the matter, that federal law requires Pikeville to follow the federal guidelines. The current speed limit is 40 miles per hour, but if the federal government decides to change that speed, the town would have to follow suit.

When asked why the town even needed to amend the ordinance, given the federal government's power over the speed limit, town attorney Will Spicer said it would give local police the authority to enforce the law.

The subject of a new town hall, which has been before the board on numerous occasions in the past several years, was tabled until the board begins its annual budget workshops in March. A leak in the old town hall building could be addressed on a temporary basis, Weaver said, until a decision as to what the town should do in the long run about the town hall is determined.