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. Page 2A-THE KINGS MOUNTAIN HERALD-Thursday, January 12, 1995 Obituaries FRANK K. OWENS Frank Kevin Owens, 024 Railroad Avenue. Kings Mountain. died January 3. 1995 at Kings Mountain Hospital. A native of Cleveland County. he was the son of the late James Flay and Ethel Hopper Owens. He was retired from Burlington Industries and wis a member of Westover Baptist Church. He is survived by his wife. Doris Pinson Owens of Kings Mountain: three sons. Franklin Owens of Myrtle Beach. S.C. Dickie Owens of Florence. '§.C.. and Jimmy Owens of Gaffney. S.C.: three daughters. Joyce Phillips of Gastonia. Ethel Whittington of Kings Mountain and Linda Sims of Kings Mountain: a brother. Paul Owens of Kings Mountain: 22 grandchildren and 34 great- arandchildren. ~~ The funeral was conducted by - the Rev. Curtis Williams Friday = at 3 p.m. at Harris Chapel. Burial was in Mountain Rest Cemetery. BURLEY E. STRICKLAND Burley Edward Strickland, 69. 929 Church Street, Kings “. Mountain. died January 8, 1995 at Carolinas Medical Center. A native of Shelby, he was the son of the late David and Sallie Pearson Strickland. He was a retired textile worker and served in the N. C. National Guard. ‘He is survived by his wife, . Alberta Putnam Strickland of Kings Mountain; two sons, © Mike and Georgia Strickland of . Ware Shoals, S.C.. and Reid Strickland of Charlotte; a broth- er. Charles Strickland of Stanley: a sister, Pansy Lail of Polkville; and two grandchil- dren, Sherry Angela Strickland Williams and Michael John "Johnny" Strickland. The funeral was conducted by the Rev. Mitchell Pruitt Wednesday at 3 p.m. at Harris Chapel. Burial was in Mountain Rest Cemetery. Memorials may be made to Hospice of Cleveland County, 201 W. Marion Street, Shelby, NC 28150; or to the Cystic Fibrosis Research Foundation, 1 Executive Center Dr., Charlotte, NC 28212. WILMA M. MAUNEY Wilma Mercer Mauney, 88, 813 West Mountain Street, Kings Mountain, died January 10, 1995 at Kings Mountain Hospital. A native of Gaston County, she was the daughter of the late Robert L. and Susan McGill Mercer, and wife of the late George W. Mauney. She was a homemaker and a member of St. Matthew's Lutheran Church. She is survived by a niece, Mrs. Laura White of Kings Mountain; two nephews, Erskine Watterson of Kings Mountain and George Robert Watterson of Carothersville, Mo.; four great-nieces; four great- -nephews; 23 great-great nieces and nephews; and two great-great-great niece and nephew. The funeral will be conducted by the Rev. John D. Mauney Jr. Thursday at 11 a.m. at Harris Chapel. Burial will be in Mountain Rest Cemetery. Open House set at Patrick House The Patrick House, the for- mer manse at First Presbyterian Church, will be open during an open house and reception Sunday after the morning wor- ship services. The recently renovated and decorated manse was named to honor the former pastor for many years, Dr. and Mrs. Paul Dickson Patrick. The church is utilizing the East King Street home for church: offices«and. parlors. for Women ofthe Church. © omhe LGC From Page 1-A ment. was $16,000 and the fund balance reported on the audit sent to the state was in excess of $1 million. "The huge fund balance re- sulted from amounts due from the city's enterprise funds for transfers which were budgeted but not made by year end," said T. Vance Holloman, Assistant Director, Fiscal Management Section, State Treasurer's Office. "Those enterprise funds had only about $1,000 in cash at year end and had not generated enough cash to pay off those in- terfund liabilities to the General Fund as of the date of our con- versation in October," wrote Holloman in his letter to the au- ditor. "Based upon conversa- tions I had with you and Maxine Parsons, Finance Director, it did not appear that the enterprise funds could accu- mulate one million dollars for payment to the general fund in the foreseeable future. Therefore 1 advised you and Mrs. Parsons that in my opinion the city's financial statements would not comply with GAAP and would not comply with the general statutes if the transfers in question were accrued in the city's general fund at year end. 1 also stated that we could not ac- cept the city's financial state- ments if they contained such a material deviation from GAAP, an accrual of more than one million dollars in the general fund from the enterprise funds, which had only a thousand dol- lars in cash and which were not current in paying their own bills, would artificially inflate the fund balance of the general fund by a material amount. "When the financial state- ments arrived in our office | noted that the transfers were not accrued in accordance with my recommendation. "The city's adherence to the General Statutes by following GAAP when preparing financial statements has resulted in those statements accurately reflecting its financial condition and pro- viding accurate information to the city's management during this period of financial stress." Holloman said that in order for receivables to be considered available at year end, they gen- erally must be received within 30 to 60 days after the year end. The city's enterprise funds had very little cash at June 30 and had not made the payments of the year end receivables by October 25, which was almost 120 days after year-end. In his budget presentation Thursday, the city's auditor said the transfers had been reduced over $1 million which brought questions from Councilman Jim Guyton who said his June finan- cial statement showed that most departments received more money in the budget than they spent. "The gas department was un- der budget on revenues and yet you show them transferring $800,000 and $100,000 in transfers from the electric de- partment "We're robbing Peter to pay Paul and not getting nobody paid. n Guyton insisted that the. city made money last year. "Yes," said the auditor. "But you used it to pay accounts payables." : Established 1889 Published Thursday at East King Street at Canterbury Road, Kings Mountain, North Colina 28086 USPS 931-040, by Republic Newspapers, Inc.-2nd Class postage paid in Kings Mountain Bob Rop .... Publisher Sarah Griffin . Business Manager Dartell Ausfin ... "Associate Publisher Fran Black ... . Bookkeeper Gary Stewart ..... seems Editor Deniece Talbe tion Manager Elizabeth Stewart ........mmmsinse News Editor Debbie WEISN vrei Production Shirley Austin ...... ao sing Representative Steven Doyle .... Graphic Artist Bill Fulton ...... ..Adverlising Representative Julie LONG vovvvvnsvsnsvsnsssssnsre Graphic Artist Nancy Miller .......ccuesn. Advertising Representative ~~ Norman Morrison .. Pressroom Manager SUBSCRIPTION RATES: In Gaston & Cleveland Counties: 1 Yt 00; 6 Months $10.00. Other NC Counties: 1 Year $19.00; 6 Months $11.00. Outside NC: 1 Year $22.00; 6 Months $12.50. WRG Postriastel Reha Address Changesto:’ Kings Mountain Herald: P.O. Box 769, Kings Mountain, NC 26086 Back issues, one month or older, when available, are 70¢ per copy. Mere North Carolina Press Association IN STOCK * ON ALL SOFAS IN STOCK * ON ALL CHAIRS IN STOCK * ON ALL OILS AND PRINTS "Well, put that $314,000 on the front burner at next year's budget retreat and we will know we owe that before we get start- cd on the 1995-96 budget," said Guyton. "I didn't know we started off 1993-94 with $1 million in the didn't like single bank acco | and it's harder to accomp these paper entries with more than one bank account. Keller said money has to be physically transferred when a city used more than one bank. ho Why is $1 million artificially red." done to start with?" asked : "Hopefully that will be wiped Guyton : : out next year," said the auditor. The money's there,” said \ "But where's the million?" asked Guyton. "We reduced the accounts payable," said Mayor Scott Neisler. "We sold $7 million worth of electricity last year and that was Commissioner Dean Spears. money," said Guyton. Is "I'm looking at my June state- But Keller said money wen 2 ment and it appears both the into the general fund to pay past electric and gas department are due bills. § operating In the red.” said [Dis amounts fo moving) Guyton."It's a paper entry and money around on paper,” said i we can't tolerate transferring of Murphrey. : ; i funds anymore," aid Wecan't tolerate this prac-§ | Councilman Rick Murphrey. fice anymore, Hi "We just can't accept this prac- Keller said the state treasur- a tice. er's office questioned the prac- LA "We're carrying excess bag- tice as it went through the re- & 4 gage when we start off a budget SE fiscal year budget "with a = year and these paper entries fine tooth comb.” Cn make us think we have money Parsons said it 1s customary = inthe bank. : Keller said Le for an official letter to follow = “ff the audit. 8 ® Oe \ § N ARNOLD'S ; { Ly oi Located between Gift Gallery 40% O55 All Christmas Stock 226 S. Washington St. Shelby -Star Sports & Arnold's Jewelry * 481-9353 6.00%]6.5%] 7.00% 18 Months | 30 Months $10,000 Minimum [$10,000 Minimum 6 Months $10,000 Minimum »* APY is The Annual Percentage Yield ** To Earn The Rate & APY The Minimum Balance Must Be Maintained Early Withdrawal Will Affect The APY Rates Available To Individuals Only. These Annual Percentage Yields Are Accurate As Of January 8, 1995 And Are Subject To Change Without Notice. Since 1907 SS s— KINGS MOUNTAIN GASTONIA SHELBY 300) W. Mountain St 529 5. Mow Hope: Red} 1238 1. Dixon Blvd. Phone: 865 HLL Phone: A84 (0227 Phone: /39 A781 * ON ALL PILLOWS IN STOCK * ON BEDROOM ENSEMBLES * ON SELECTED FABRICS 0” 9% | OFF THRU JANUARY 31, 1995 M11 All American Fabrics L 482-3271 OPEN 9:30-5:00 MON-SAT - Quality Custom Made Upholstered Furniture . Fabrics for every room in your home - Design consultants to assist you . Sample Design Center Yo 636 S. Lafayette St, Shelby {oo NOTICE OF PLEFELRLED CUSTOMED SALES ) 226 S. Washington St., Shelby, NC ¢ 487-4521 Plenty of FREE Parking Beside the Store es
The Kings Mountain Herald (Kings Mountain, N.C.)
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Jan. 12, 1995, edition 1
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