The Town of Newburgh recently received a clean audit opinion from the public accounting firm of RBT, CPA’s LLP, for the calendar year ended December 31, 2019.
The audit was conducted on a test basis and analyzed evidence to validate the amounts and disclosures of the Town’s financial statements for the year. After investigating financial records, the independent auditors concluded, that the financial statements presented fairly, in all material respects, the respective financial position of the governmental activities as of December 31, 2019 and for the year then ended.
“This audit should give residents peace of mind that an outside firm has extensively reviewed our financials, internal control measures, and other related items and found that we are in conformance with the highest standards,” said Supervisor Gil Piaquadio. “We take financial matters very seriously and are pleased to have our work validated. I wish to thank my accounting staff for their very hard work resulting in this excellent report.”
Among the significant points referenced in the financials include the General Fund revenues amounting to $20.7 million and expenditures of $19.4 million. The net of these helped the General Fund’s fund balance increase to over 8 million dollars.