Finance Board Hears Audit Report
The Board of Finance found out that the town's past fiscal year performance was on par with the rest of the state.
The town's auditor presented the 2008-09 fiscal year audit to the Board of Finance on Tuesday night.
Blum Shapiro's Vanessa Rossitto made a couple recommendations for internal procedure changes but said that, overall, the town had a decent enough year financially considering the state of the economy.
"Obviously, it was a pretty bad year for all the town," said Rossitto, who is involved in about 16 town audits in the state for the firm, which audits about a third of Connecticut's municipalities. The town's fund balance was basically flat, but in a fiscal year like the prior one, that's not a bad thing, she said.
The auditors only offered two bits of advice about the town's internal money procedures. One was to separate large capital purchases into distinct funds depending on whether or not the funds for them were bonded instead of entering them together and dividing them later. The second recommendation was to make sure employees date and initial documents that they process as a regular part of their workflow.
The town addressed all issues brought up by the previous year's audit so that none were carried over into this year's recommendations.