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YORKTOWN, N.Y. – The Town of Yorktown's finances recently passed a close inspection by its outside auditors.
Joseph Komek of Toski, Schaefer & Co. told the town board an audit completed July 20 identified no deficiencies in the town's financial reporting for 2011 and found no problems in the administering of its Section 8 program.
One of the recommendations contained in the 73-page report was for Yorktown to establish a fund balance policy, something Supervisor Michael Grace has mentioned as a priority.
"It's always a big issue," Grace said.
Council member Nick Bianco said while there has been no formal fund balance policy, the board has regularly received reports from Comptroller Joan Goldberg.
Komek reported Yorktown had $4.1 million in its unassigned fund balance, which represents 18 percent of its general fund, a percentage well within the recommended level.
It was also suggested that the town establish a citizens audit committee, for which Yorktown is already seeking members.
Comments (2)
ebray, I guess you think because we have we are OK now that we really don't need any additional income sources. Well we all know what that kind of thinking has gotten us, don't we?
Phew. That's a relief. A lot of the proposed new development (Costco) and proposed re-zoning and new development (State Land Corp.) has been championed by people arguing Yorktown was about to fall off a fiscal cliff if we don't just rubber stamp these proposals immediately. Thankfully, it appears, that's wholly untrue and we've got a nice chunk of change in unassigned reserves (can be used for anything) coming out of the worst recession since the great depression. Perhaps Yorktown actually IS a part of Westchester--one of the most affluent counties in the entire nation; now we should act like it and make sure these developments conform the the very clear guidelines passed into law in the form of our Comprehensive Plan (Costco doesn't pass the smell test and re-zoning State Land Corp from 1 acre single family homes to the biggest commercial district [C-3] for a store larger than Coscto + a mini mall is akin to rape--figuratively speaking). It's all there in black and white. Let's just follow what the plan directs us to do which doesn't involve big-box wholesalers.