The Town of Sweden’s 2018 audit has been completed by Raymond F. Wager, a division of Mengel Metzger Barr & Co.
There were four key financial highlights from the report: the total assets of the town exceeded liabilities by $8.1 million; program fees and grants accounted for 34 percent of revenues (reducing the burden on taxpayers); combined fund balances increased by nearly $200,000 over the prior year; and the town’s total expenses decreased by 6 percent over the prior year.
The town’s audit was completed earlier than usual to accommodate the town seeking funding on the municipal bond market for a three-year highway and parking lot improvement project. The $1.46 million bond sale will take place on April 16.
The annual court audit has also been completed. No findings were noted. The Sweden Town Board anticipates accepting the court audit at its April 23 meeting and then filing the report with the NYS Unified Court System.
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