By David Fleet
Editor
Goodrich-By a 5-0 vote on Monday night, the village council accepted an audit report from Berthiaume & Company for the fiscal year ending June 30, 2018.
Ken Berthiaume senior accountant delivered the report to the council. According to the 2018 audit, the village general fund increased by $107,862 during the year ending June 30, with $491,991 in the village coffers. In comparison, according to the 2017 audit the general fund increased by $37,057 to 366,979. Similarly, according to the 2016 audit general funds increased by $19,912 to $329,922.
”We have an unmodified opinion,” said Berthiaume. “That’s the best you can get. The village has a good financial condition. No equity deficits.”
Based on expenses of $621,000 the village has about 80 percent, or about nine months in reserves, reported Berthiaume.
Village officials budgeted $658,172 in revenues for the 2018 fiscal year and $736,938 was actually reported, about $78,766 over budget. Similarly, $371,915 in expenditures were budgeted with $491,991 reported, a variance of $120,076 over budget.
In prior years, there were certain receivable and payable balances that were not recorded in the village sewer fund.
Berthiaume adjusted the village sewer fund accounts receivable by an increase of $151,000 and accounts payable by $48,000. Those two transactions increased the sewer fund net position by about $103,000.
Current long term debts are now $1,004,094, a decline of $47,000 from the $1,049,094 reported on June 30, 2017 audit, which includes the village office building that will be paid off in 2044