Purpose of Audit

The purpose of our budget review was to determine whether the significant revenue and expenditure projections in the Town’s proposed budget for the 2015 fiscal year are reasonable.

Background

The Town was categorized as being "susceptible to fiscal stress" in a report issued in September 2104 as part of the Comptroller’s Fiscal Stress Monitoring System. The 2015 proposed budget for the Town’s five funds totals $1,378,325 and is funded by estimated revenues of $134,785 and real property tax revenues of $1,243,540.

Key Findings

• Based on the results of our review, we found that the significant revenue and expenditure projections in the proposed budget are reasonable.
• The Town has adopted a local law to override the tax levy limit in 2015.

Key Recommendations

• There are no recommendations for this budget review.