June 11, 2020
Contact: Connie Conway
For the second year in a row, a recently completed Independent Audit of the Town of Southampton’s finances, conducted by certified public accountants at Nawrocki Smith, found no reportable deficiencies and made no recommendations for improvement of any kind. The report stated the Town of Southampton is budgeting from a “position of financial strength and stability.” The Independent Audit of the year 2019, reflects a “clean” or unmodified opinion on the financial statements.
The report concludes in its findings and recommendations:
- No material weaknesses nor significant deficiencies in internal control
- No recommendations for improvements in policies or procedures
“The report continues to demonstrate that the Town of Southampton maintains a strong financial footing,” said Supervisor Jay Schneiderman. “Our conservative budgeting practices and fiscal controls have earned the Town the highest available bond rating, AAA. Under the leadership of Town Comptroller Len Marchese and his staff, I am confident we will continue our path of balanced budgets, debt reduction and fiscal oversight that has led to our enviable financial standing.”