Village of New Haven Audit Results March 31, 2020 Presented by Michael Rolka, CPA, CGFM & Christina Dey Presented on August 11, 2020
Village of New Haven Audit Opinion • CAN ONLY BE ISSUED BY A LICENSED CPA FIRM • HIGHEST LEVEL OF ASSURANCE • MANAGEMENT’S RESPONSIBILITY • AUDITOR'S RESPONSIBILITY • UNMODIFIED OPINION – PRESENT FAIRLY – IN ALL MATERIAL RESPECTS – FINANCIAL POSITION 2 Yeo & Yeo, P.C.
Village of New Haven General Fund Revenue – 2020 3 Yeo & Yeo, P.C.
Village of New Haven General Fund Expenditures – 2020 4 Yeo & Yeo, P.C.
Village of New Haven General Fund Revenues and Expenditures $2,000,000 $1,978,602 $1,900,000 $1,759,836 $1,800,000 $1,741,401 $1,700,000 $1,631,982 $1,618,787 $1,600,000 $1,644,406 $1,500,000 $1,432,086 $1,476,876 $1,400,000 $1,436,503 $1,300,000 $1,320,089 $1,200,000 2016 2017 2018 2019 2020 Revenue Expenditures *Includes Other Financing Sources and Uses 5 Yeo & Yeo, P.C.
Village of New Haven Water Operations $1,100,000 $1,040,691 $1,050,000 $985,330 $1,000,000 $956,750 $949,280 $950,000 $917,105 $957,015 $965,372 $935,251 $900,000 $850,000 $853,759 $826,136 $800,000 $750,000 2016 2017 2018 2019 2020 Total Revenues Total Expenses 6 Yeo & Yeo, P.C.
Village of New Haven Sewer Operations $2,000,000 $1,834,634 $1,800,000 $1,584,116 $1,600,000 $1,486,007 $1,459,576 $1,412,430 $1,553,005 $1,400,000 $1,309,819 $1,200,000 $1,244,881 $1,196,943 $1,153,873 $1,000,000 $800,000 2016 2017 2018 2019 2020 Total Revenues Total Expenses 7 Yeo & Yeo, P.C.
Village of New Haven General Fund – Fund Balance $1,200,000 $1,100,000 $1,093,371 $1,078,130 $1,000,000 $965,517 $900,000 $895,846 $800,000 $700,000 $600,000 $631,321 $500,000 2016 2017 2018 2019 2020 8 Yeo & Yeo, P.C.
Village of New Haven Water Fund – Unrestricted Net Position $250,000 $197,821 $200,000 $140,448 $140,412 $150,000 $120,963 $100,000 $70,638 $50,000 $ ‐ 2016 2017 2018 2019 2020 9 Yeo & Yeo, P.C.
Village of New Haven Sewer Fund – Unrestricted Net Deficit $ ‐ 2016 2017 2018 2019 2020 $(200,000) $(400,000) $(600,000) $(709,758) $(800,000) $(1,000,000) $(1,200,572) $(1,234,687) $(1,038,687) $(1,200,000) $(1,400,000) $(1,406,817) $(1,600,000) 10 Yeo & Yeo, P.C.
Village of New Haven Communication Letter • Letter to Village Council • Auditing process • Internal control matters identified during the audit 1. Significant deficiencies – None 2. Material weaknesses a. Deficit Fund Net Position 3. Noncompliance a. Final Budget Amendment • Management comments and recommendations 1. Unallowable Expenditures 11 Yeo & Yeo, P.C.
Thank you! Michael Rolka , CPA, CGFM & Christina Dey (800) 968 ‐ 0010 microl@yeoandyeo.com chrdey@yeoandyeo.com
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