The Elkton City Council met in special session on Tuesday, January 31, 2006 with Mayor John E. Walton presiding.

Mayor Walton called the meeting to order at 5:00 PM.

City Council members present: Brad Shemwell; Nancy Camp; David Powell; Greg Allen; Eugene Jefferson; and, Danny Laster.

Others present: City Clerk/Treasurer Laura Brock; and Ryan Craig, Todd County Standard.

Agenda

1. FY 2005 Audit Report

Mayor Walton introduced Rick Davis of Thurman, Campbell and Company. Mr. Davis presented the City’s FY 2005 Audit Report. Mr. Davis reported the financial statements were given an unqualified opinion, the cleanest report possible. Also, it was their opinion that the general purpose financial statements present fairly the financial position of the City of Elkton as of June 30, 2005. Mr. Davis reviewed the management discussion and analysis report and financial statements with the Mayor and council. There was some discussion regarding the net loss in the water and sewer departments. After some discussion, Mr. Allen motioned to accept the audit report. Motion seconded by Mr. Laster and carried unanimously by the council.

There were no further items on the agenda, therefore Mr. Jefferson motioned to adjourn and seconded by Mrs. Camp. Motion carried and meeting adjourned at 5:40 PM.