By Journal Staff
BOYCE, La. — The Town of Boyce released a formal response to its newly published Fiscal Year 2024 audit, emphasizing that while significant historical deficiencies were cited, key financial milestones and sweeping cost reductions have substantially altered the town’s fiscal condition since that period.
The annual financial report, prepared by independent accounting firm Rozier, McKay & Willis, examined the fiscal year ending May 31, 2024. Independent auditors issued a disclaimer of opinion on the town’s financial statements, noting they were unable to obtain sufficient audit evidence largely due to poor recordkeeping during a transition between administrations.
“During a portion of the year under audit, the Town’s previous administration made little effort to document expenditures or record financial transactions,” the audit stated.
Town officials pointed out that Mayor Kelvin V. McCoy and the current Board of Aldermen took office in 2023, meaning the FY2024 audit captured operations from both the previous and current leadership.
“The FY2024 audit examines the Town’s financial condition as of and for the fiscal year ending May 31, 2024,” the town said in an official statement. “It is not an audit of the Town’s financial position as of October 2026”.
Resolution of Pension Dispute
A central issue highlighted in the FY2024 audit involved accrued liabilities totaling roughly $1.14 million stemming from disputed contribution claims by the Municipal Police Employees’ Retirement System (MPERS). The audit report warned that those claims, combined with requests from MPERS to withhold state distributions, created substantial doubt at the time regarding the municipality’s ability to continue as a going concern.
Boyce administration officials announced that the dispute has since been fully resolved. After contesting the claims through litigation, the town reached a $160,000 settlement with MPERS, which has been paid in full.
“That dispute has since been resolved through settlement,” said Greg Jones, legal counsel for the Town of Boyce. “The approximately $1.14 million claim referenced in the audit is therefore no longer an outstanding $1.14 million obligation of the Town”.
Policing Reductions and Operations
Boyce leadership also underscored steps taken to drastically rein in recurring operational costs, particularly within law enforcement.
Expenditures tied to the town’s elected Chief of Police Department reached nearly $1.4 million in Fiscal Year 2022 under the prior administration. Boyce has since downsized the municipal police department and partnered with the Rapides Parish Sheriff’s Office to assist with patrol and protection services.
Annual law enforcement expenses are now estimated at approximately $300,000—a recurring annual savings of roughly $1.1 million.
“Financial stability requires us to make decisions based on what the Town can realistically sustain,” McCoy said. “We are reducing recurring expenses while maintaining essential services, and we continue looking for opportunities to operate more efficiently”.
Audit Findings and Corrective Actions
Despite the auditor’s disclaimer of opinion, the FY2024 financial statement showed measurable operating gains. Boyce’s governmental fund balance increased by $295,803 during the fiscal year to finish at $204,031, while governmental activities increased the town’s net position by $56,481, driven by expenditure reductions across multiple departments.
At the same time, auditors identified one material weakness in accounting practices and five material noncompliance findings, many of which carried over from the 2023 fiscal year. Deficiencies cited included:
- Noncompliance with Louisiana public records retention laws due to missing purchase records.
- General accounting dysfunction resulting in late fees, finance charges and delays in financial reporting.
- Unfavorable budget variances exceeding statutory limits in the Half-Cent Sales Tax Fund.
- Failure to make required monthly reserve and contingency fund transfers required under utility bond covenants.
- Failure to submit the completed audit within the state-mandated six-month deadline.
Town officials affirmed that the administration is not minimizing the findings and is actively implementing corrective action plans. Boyce is establishing a regular finance committee review, increasing staff accounting training, tightening accounts payable to avoid late fees, adhering to debt-covenant transfer schedules and improving budget monitoring.
“The audit gives us both accountability and a roadmap,” McCoy said. “We cannot change financial practices or records that existed before this administration took office. What we can control is how we respond to those problems, the financial decisions we make today and the systems we put in place for the future”.