Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Municipal Finance topic
No spam. Unsubscribe anytime.
Town clerk says final fiscal-year numbers await audit
Summary
Town Clerk Cynthia Mallett told the council the July financials are preliminary because year-end accruals for invoices and expenditures are pending; final numbers will be published after the audit.
Town Clerk Cynthia Mallett presented a report on the town's finances and said the meeting covered the final month of the fiscal year. She warned that the financial report is not complete because certain expenditures and invoices must be accrued at fiscal year end. "The final numbers will appear when we do our audit," Mallett said.
Mallett said expenditures and revenues will change for certain line items in June as accruals are processed. The council did not ask further questions during the report; the clerk indicated the audit will reconcile outstanding items and produce the official year-end figures.
