By David Fleet
Atlas Twp.– Brian Essenmacher a CPA for Yeo & Yeo, presented the annual financial statements and auditor’s report for the fiscal year ending March 31, 2020 at Monday’s township board of trustee meeting. The township board of trustees, who convened in person, voted 5-0 to accept the audit.
According to the audit, for the fiscal year 2019-20 the general fund revenues of about $1,500,000 million was up slightly from the 2018-19 fiscal year with expenditures of about $2,100,000 up about $850,000 due to the budgeted township offices building project.
“The capital outlay took up 41 percent of all expenditures this year,” said Essenmacher. “It takes up a bigger portion of the pie. Every item was within budgeted amounts.”
Over the past three years the township funded a redesign of the office interior, including expanding the building by about 3,000 square feet to about 7,500 square feet. The two bay garage area, once home to a township firetruck was converted into office space—adding about 640 square feet to the building. The sheriff deputy area is now larger and includes a locker room to change. Additional spray in insulation was used on the roof area. The kitchen includes a 490 square feet addition, for the new community board room. The existing board room was converted into a conference area and storage rooms. The project was completed in the fall of 2019.
As a result, the general unassigned fund balance decreased from $2,459,955 to $1,518,820 a total of $941,135, according to the audit.
“It was planned decrease,” said Essenmacher. “The township is still in a good position.”
The fund balance, represents the surplus that the township may have. It is the excess of the township assets above its liabilities (what the district owns minus what it owes). While cash is an asset, it’s only one of many of an institution’s assets. Others include: accounts receivable, prepaid expenses, supplies, equipment and buildings.
“I’m really happy how the audit turned out,” said Tere Onica, township supervisor. “It was a little nerve-racking as the pie chart shows, with the percentage of the building (project) and the roads. It ended up being good because we were cautions and paid attention as time went on. It was stressful.”
The decrease in general fund balance was the first since 2017. Over that time the fund balance had grown from $1,164,467 in 2016 to $2,459,955.
The police fund operating expenses have increased from just under $550,000 in 2014 to about $660,000 in 2020.
By David Fleet