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Collins board finalizes 2016 budget process, accepts 2014 audit and ranks CDBG requests
Summary
In October and November the Town Board set public hearings, adopted the 2016 preliminary budget and completed budget transfers; the board accepted the 2014 financial audit and ranked CDBG project requests, supporting a rural transit van and the Hollywood Theatre grant application.
The Town Board moved several budget and oversight items in late 2015, adopting the 2016 preliminary budget, accepting the town—s 2014 audit and advancing Community Development Block Grant (CDBG) project requests.
On Oct. 19 the board set a public hearing and then adopted the 2016 preliminary budget on Nov. 2. Budget workshops in September refined capital priorities and line items; the board approved several intra-fund transfers and budget modifications during fall meetings to account for CHIPS state aid adjustments, capital project funding, and unexpected expenditures.
The board also accepted the auditors— 2014 report prepared by Freed Maxick CPA—s, which identified one deficiency and otherwise reported healthy cash positions and reserves; the auditors recommended the town maintain reasonable fund balances under state fiscal pressures. Separately the board ranked CDBG project requests and authorized the supervisor to sign ECCDBG submissions, with a priority placed on a rural transit van program and support letters for local cultural projects that sought CDBG funding such as the Hollywood Theatre renovation.
Why it matters: budget adoption and audit acceptance are core fiscal accountability steps for the town; they establish authority to expend funds and to move capital projects forward. The CDBG ranking and support letters help make the town eligible for county-administered federal funding for transit and cultural preservation projects.
What—s next: the board will monitor the 2016 budget implementation, track grant application outcomes, and incorporate the auditors— recommendations into ongoing fiscal management.
