Purpose of Budget Review

The purpose of our budget review was to determine whether the significant revenue and expenditure projections in the Town’s tentative budget for the 2018 fiscal year are reasonable.

Background

The Town of East Hampton, located in Suffolk County, is authorized to issue debt not to exceed $30 million to liquidate the accumulated deficit in the Town’s general fund as of December 31, 2007, December 31, 2008, and December 31, 2009. New York State Local Finance Law requires all local governments that have been authorized to issue obligations to fund operating deficits to submit their tentative budgets for the next fiscal year to the State Comptroller for review while the deficit obligations are outstanding.

Key Findings

• Based on the results of our review, we found that the significant revenue and expenditure projections in the tentative budget are reasonable.
• The Town’s 2018 tentative budget complies with the tax levy limit.

Key Recommendations

• The budget review did not contain recommendations.