How One Florida Town Rebuilt Its Fiscal Health
For cities, towns and other municipalities, outdated systems and personnel shortages often make it hard to operate effectively and stay in compliance.
In a single year, one Florida town went from being a year behind in month-end closes to on time (and saw a 40% increase in general revenues to boot). Here’s how James Moore & Company’s government CPAs helped.
Challenge: Financial Gaps and Audit Pressure
A Florida town was more than a year behind on bank reconciliations and unable to complete their required audit. With staff turnover and outdated systems compounding the problem, leaders had no visibility into cash flow, no credible reporting and no reliable accounting tools. Meanwhile, they were using an outdated accounting platform their team didn’t understand, slowing down operations and increasing risk.
The municipality was familiar with our work and sought our help to get back on track.
Strategy: Restore, Replace, Rebuild
We began with full-scale reconciliations to bring their financials up to date. From there, we converted them to QuickBooks Online, which offered better transparency and long-term manageability for their team. Once in the new system, we trained staff on how to use it effectively.
After restoring their records, we coordinated with an audit firm and helped them prepare all necessary documentation. That support resolved their delinquency and positioned them for smoother audits in the future.
The increased visibility also uncovered another issue: Their utility fund was losing hundreds of thousands of dollars per year, at least in part because they hadn’t raised rates in a long time. Upon our recommendation, they underwent a utility rate study to help put money back in the system without overburdening their constituents.
Results: Tangible Gains, Sustainable Practices
Thanks to this engagement, the town saw real financial improvement:
- Their utility fund grew by more than $300,000, now with accurate reporting and tighter billing oversight.
- Overall revenue increased by over $500,000, due to better tracking and more timely reporting of receivables.
- Audit delinquency resolved and they are now on a consistent schedule with clean records.
- Books are reconciled on time, 45 days after each month’s close (sometimes even sooner).
- Staff productivity improved, with a user-friendly accounting system and on-demand support from our team.
Today, we provide ongoing monthly reconciliations and serve as a financial advisor on budget planning and operational questions. The town’s staff takes care of the bills and payments that come in, while we support them in the background and advise them on budgetary concerns.
Keys to Success
These gains weren’t a fluke. They were the result of getting the right systems, training and process support in place. By hiring a team with decades of municipal finance experience, the town was able to right the ship and focus on what’s most important: serving their citizens.
If your municipality is struggling to keep up (or unsure how to fix years of backlogged records), we can help. At James Moore, our Municipal Finance Support Services team provides the accounting clarity and compliance confidence that smaller towns need to thrive.