By David Fleet
Editor
Goodrich-By a 4-0 vote on Monday night, the village council accepted an audit report from Lewis & Knopf for the fiscal year ending June 30, 2017. Council member Jake Vick was absent.
Christie Bueche senior accountant for Lewis & Knopf, delivered the report to the council. According to the 2017 audit, the village general fund increased by $37,057 during the year ending June 30, with $366,979 in the village coffers.
In comparison, the 2016 audit increased by $19,912 to $329,922 in general funds.
“The village has received a ‘Clean Unmodified audit opinion’ for the past 21 years and created a fund balance each year,” said Jakki Sidge, village administrator. “This year was no exception.”
Based on a current budget of $621,000 the village has about 51 percent, or about six months in reserves, reported Bueche.
Village officials budgeted $649,000 in revenues for the 2017 fiscal year and $644,000 was actually reported, about $5,000 under budget. Similarly, $677,000 in expenditures were budgeted with $607,000 reported, a variance of $70,000 under budget.
“Under budget is always a good thing in our eyes,” said Bueche.
Current long term debts are now $1,049,094, a decline of $55,906 from the $1,105,000 reported on June 30, 2016 audit, which includes the village office building that will be paid off in 2044
“I looked at comparables from prior years to current years,” she said. “What we saw this year was another increase in fund balance, which is trending upward and that’s fantastic in times like this. At the same time you’re increasing your fund balance you’re still paying down your debt, meeting your obligations and still providing the services for the village. So in my personal opinion you’re doing great.”