Audit Report 12/31/1971 - Laserfiche WebLink

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decreased by $3: 166.56 from those of one yew: ea r,. The mmall balance remaining in the Municipal Building Fund should be c:`.eeed off to Debt Service Fund by appropriate Council action. We confirmed the tax receipts directly with the County Auditor. Other receipts were checked against duplicate receipts issued, licensees and other supporting memoranda. Disbursements were properly listed in Council minutes, supported by invoices and checks signed by the Mayor and the Clerk - Treasurer. it — cr,AL CENiS Based on our emanation of the accounts and records of the Village Clerk.. Treasurer, we conclude that the records were well kept. The Village is in a sew financial condition with a reasonable cash balance remaining at the end of the year to be carried into the next year. Books are maintained on the usual cash basis as is customary for municipalities. For the Balance Sheet, Exhibit At we have tried to develop as complete a financial picture es reasonably passible by including all significant known assets and liabilities by funds. Details on the assessed valuation « f property on the tax rolls and the tax levies, as voted by the Council are shorn in Schedule 1 at the end of this report, on a eomperative basis for the last three years. The assessed valuation at $1,828,655.00 increased by $69,205.00 from that of one year ago, after dropping exempt personal property of $29,136.40 from the total valuation. Insurance and bends in force are detailed in Schedule 2 at the very end of the retort. Adequate coverages appear to be carried on the usual risks as your insurance requirements have been reviewed and adjustments have been made.