Auditor Praises Somers Town Finances
An external auditor has given a rave review to the Town of Somers’ handling of its finances for 2010.
Domenick Consolo, a partner in the Harrison-based accounting firm of O’Connor Davies Munns & Dobbins, discussed his audit during the Sept. 8 town board meeting.
“I am here to report on the financial condition of the town as of Dec. 31, 2010,” Consolo told the town board.
The town received $238,237 less in revenues than expected, mainly because a sale of town property that was slated to generate about $220,000 “fell through,” Consolo said. However, the town obtained $113,100 more in property taxes than expected, mainly through the collection of back taxes owed to the town, he said. Somers was the only town in Westchester that obtained a significant payment of back property taxes in 2010, Consolo said.
By the end of 2010, the town had a fund balance of about $2,480,000, which represented about five percent of its entire budget for the year, Consolo said.
“All in all, the Town of Somers was in very good financial condition as of Dec. 31, 2010,” Consolo said.
Councilman Richard Clinchy asked Consolo if the state government had recently implemented any changes in laws regarding town budgeting practices. “Nothing effecting you” regarding state law for municipal budgeting, though there have been state aid cuts to municipalities, Consolo said.
