The Eden Town Board received some good news about their financial standing during an annual audit report presented to them at the meeting on Wednesday, May 1.
The board had the audit report presented to them by representatives of the accounting firm Drescher & Malecki, LLP. After reviewing the town’s comprehensive annual financial report, the firm noted that the town’s finances are in sound condition, especially regarding the town’s general fund. Currently, the town has enough financial resources stored in the general fund to pay off two months of expenditures without any revenue, representatives of Drescher & Malecki stated at the meeting.
The board was cautioned, however, about the town’s highway fund usage. For the past few years, the projected expenditures for the town’s highway department have been higher than the amount of money set aside in the fund. Last year, the town came in under budget on the highway fund, but that was due mostly to a mild winter that saw lower than average snowfalls.
In the future, the board may also get some relief on rising retirement costs that have been a perennial thorn in the side for most levels of government. The town will experience two more years of rising retirement costs, but those costs could actually decrease in 2015 and beyond. Currently, towns must pay into the state retirement system at a rate that’s tied to the performance of the stock market over 5 years. In 2015, the 2009 fiscal year rate, currently the highest among the five years that go into the blended rate, is dropped from the equation.
In other business, the board:
• Approved landscaping and excavation work to be performed at the back-up generator site for Eden Water Pump Station No. 1. The work will be carried out by the town’s highway department, and will cost the town $39,000 from its consolidated water district fund balance.
• Submitted its draft of the annual Municipal Separate Storm Sewer System, or MS4, report for public review. This report helps New York State monitor the composition of its waterways, and the information gained in this way helps inform practices for reducing street and lawn runoff. As one town representative put it: “I apologize, ladies and gentlemen, but it’s to avoid dog poop from getting in the water.”
The draft will be available for public review in the offices of both the town supervisor and the town clerk for the next two weeks.