Audit Report 12/31/1970 - Laserfiche WebLink

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December 331, 1970. Schedules -1 through 3 -7 present detailed aneiysec of the cash transactions in the various funds: together with comparable budget estimates as made by the Village Council a year in advance. Condensed comparisons of receipts and disbursements for the General Fund and for the Road and Fridge guild with those of the prior year are presented in Schedules S -1 t and S -6a., respectively. These schedules should be helpful in making comparisons of fund tractions of the tuo largest and moot important fund~ of the Village for the past two years. -All the funds ended with debit balances (in the black) tbis year. in total, all fund balances at ;54,866.62 increased by $4t,391.20 from those of one year ago. Of this increase, Y27,442.60 reprcaenta the unexpended balance in the Municipal Euilc ing Fuad; the Road and Bridge Fund improved its balance by X113 , 106.11 ; and Parka and Playgrounds by $4,197.39. The Gvpber Control Fund ;ass, combined with the General Fund as :ordered by appropriate Council action. We confirmed the tax receipts dryrect?y i th the County Auditor. Other receipts were checked against &plicate receipts issued, licenses cad other zupporting memoranda. Disbursements were properly listed -3n Council minutes, supported by invoices and checks signed by the 1'Iayo:: and the Clerk- Treasurer. TI t 4yR&L COMFITS Based on our examination of the accounts and records of the Village Ctoric- Treasurer, we conclude that the _records were cell kept. . The Village is in a pound financial condition. Books arc maintained on the meal cash bass a^ is customary for municipalities, but we have tried to develop as complete a..financial picture as reasonably possible on the Balance Sheet, Exhibit A. This we have doze by inclusion of all significant known assets and liabilities by :}undo, co es to make it more meaningful. Details on the assessed ; .1uation of property on the tax rolls cad the tax levies, n voted by the Council are shown in Schedule 1 at the end of thin report, on e. comparative basis for the last three years. The assessed valuation at $1,759,450.00 increased by P,S6,624.0O from that of one year ago. We do h- information r; t :- '. of increase ,- o due to add:._' not have the �i:;:Q_;'�a�tf1 u� s:0 �IQ' :•, R_ Ci. o.. �_.�.3 "�tQii..::S properties placed on the tax roll: .� , • .. Je..uC�U L: "� " ^v " ,,R ^._1.t+4 :3S.�L Co •l�'"v..Ir. }�es previously on the tax rolls. t e:7 Insurance and bonds '?�T "o:ce w = °c �:c:.^ l :ens .� Schedule 2 �. >.: e -��.., and of the report. . .dequate coverages i27oc.. to be carried on the usual rim sn your insurance rCauireuentc _a :e been reviewed end adjustments have been made.