The town of Pilot Mountain has a better idea of its finances and some major leadership changes.The Board of Commissioners decided to terminate town manager Michael Boaz.He was placed on unpaid leave in late October after accusations of misusing town funds. Former state auditor Beth Wood presented her financial report to the board Monday.While she didn’t find any evidence of embezzlement for the fiscal year ending in June, she did find signs of misappropriation of town funds.Based on her findings, Wood says budget amendments of more than $749,000 from two separate funds were made without the board’s approval.Because of this, Wood said the town did not receive revenues to cover necessary expenditures, leading to the use of restricted cash to pay for things from their general fund. Their restricted balance includes funds for the town’s EMS-Rescue squad’s headquarters, fixing streets, and other projects.”We’re trying to make our town a better place, and now it feels like we got gut-punched, and we’ve been pushed back 10 years,” said Commissioner Scott Needham.”Now we must look forward. Getting a handle on the town’s finances, continuing the critical work on rebuilding the infrastructure, growing our local economy and selecting a new manager that can help foster the right culture for continued progress for our town,” Mayor Evan Cockerham said.Wood said evidence of embezzlement can’t be completely ruled out, without taking a look at fiscal year 2023.The board also voted to bring in the SBI to further examine their finances.
PILOT MOUNTAIN, N.C. —
The town of Pilot Mountain has a better idea of its finances and some major leadership changes.
The Board of Commissioners decided to terminate town manager Michael Boaz.
He was placed on unpaid leave in late October after accusations of misusing town funds. Former state auditor Beth Wood presented her financial report to the board Monday.
While she didn’t find any evidence of embezzlement for the fiscal year ending in June, she did find signs of misappropriation of town funds.
Based on her findings, Wood says budget amendments of more than $749,000 from two separate funds were made without the board’s approval.
Because of this, Wood said the town did not receive revenues to cover necessary expenditures, leading to the use of restricted cash to pay for things from their general fund. Their restricted balance includes funds for the town’s EMS-Rescue squad’s headquarters, fixing streets, and other projects.
“We’re trying to make our town a better place, and now it feels like we got gut-punched, and we’ve been pushed back 10 years,” said Commissioner Scott Needham.
“Now we must look forward. Getting a handle on the town’s finances, continuing the critical work on rebuilding the infrastructure, growing our local economy and selecting a new manager that can help foster the right culture for continued progress for our town,” Mayor Evan Cockerham said.
Wood said evidence of embezzlement can’t be completely ruled out, without taking a look at fiscal year 2023.
The board also voted to bring in the SBI to further examine their finances.
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