Auditor says Town passed both financial and compliance audits.
At Monday's Town Council meeting, Paul L. Dansereau, CPA of Baxter Dansereau & Associates presented the Independent Audit performed for the Town of Coventry for the fiscal year which ended on June 30, 2012. Dansereau briefly showed members of the Council where they could find specific financial information within the 133-page audit (attached) in regards to the Town's net assets, liabilities, fiduciary funds, etc., before his report. From a long-term standpoint, Dansereau explained that pages 13-14 of the audit show the Town's profits and losses by illustrating the expenses of governmental and business-type operations. The audit shows a total Net Assets amount of - $14,932,163, a number affected greatly by the amount of liabilities that…
Department heads and council members discussed the effects of 5 and 10% budget cuts for fiscal 2012-13.
Town Council members, residents and department heads gathered at Town Hall on Thursday night for a public municipal budget hearing. The focus of the meeting was to show the effects of cutting each town department's budget by either 5% or 10% for the fiscal 2012-13 budget year. It is clear that every department would be effected by a cut of any size, however some would suffer more than others. Several department heads addressed the council to expand on how cuts would impact their department at the 5% and 10% levels. Police Department The Council and Town Manager Tom Hoover, who put together the presentation, decided that the Coventry Police Department would only be eligible to take a 5% ($467,000) cut if needed, as 10% would prove …
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Dennis
11:24 am on Tuesday, April 17, 2012
What about the fire departments? My " fire tax bill keeps going up and up". 900.00 a year for a fire tax is outrageous. Why do we need so many fire chiefs in one town. more ›