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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 2018, concluded the Town enjoys “a strong financial condition due to many years of sound fiscal management of Town resources.”
The report credited the Town’s strong position to:
The report stated the Town has also benefited greatly by paying down its debt and refinancing debt at a lower rate. It also praised the Town’s “Pay-As-You-Go” policy to address various needs without having to take on additional borrowing.
“This is a stellar independent audit,” said Supervisor Jay Schneiderman. “This confirms that our management practices are working. I want to commend Comptroller Len Marchese and his staff for fiscal control and working to save Southampton Town taxpayers their hard earned money.”
The complete report can be found on the Town’s website http://www.southamptontownny.gov/274/Reports-Studies