Supervisor Jay Schneiderman is proud to announce that, for the fifth straight year in a row, the Town of Southampton has received a perfect audit report from Nawrocki Smith LLP, the certified public accounting firm hired by the Town to perform the financial task.
At the June 8, 2023 Work Session, David Tellier, Partner, reported no material weaknesses nor significant deficiencies in internal control, and offered no recommendations for improvements in policies or procedures. Tellier went on to praise the Town’s departments, especially the Comptroller’s Office, for their extremely accurate bookkeeping practices and excellent cooperation with the auditors.
The fiscal 2022 audit reflects the following:
- Net increase in fund balance of $78.0 million
- Total revenues of $232.7 million
- Total expenditures of $165.3 million
- Total other financing sources of $10.6 million
Supervisor Schneiderman stated, “The Town of Southampton is the gold standard for other regional municipalities to emulate when it comes to sound accounting practices. Our financial health has gotten stronger and stronger, culminating in the Aaa credit rating we have received from Moody’s and S&P over the last few years. This 2022 audit will hopefully put us in good stead to receive another Aaa rating this year. With the help of Comptroller Dorothy Godlewski and her staff, the Town continues to post strong financial results, giving our taxpayers confidence that the Town’s finances are in good hands.”
A resolution for the Town Board to formally accept the 2022 Audited Financial Statements from Nawrocki Smith is scheduled for the June 27, 2023 Town Board meeting, after which the Town’s 2022 Financial Report will be available for review in the Town Clerk’s Office, and on the Town’s website at www.southamptontownny.gov.