Auditor Pete Blair of Blair and Associates has visited all three North Fork Valley town councils about the 2012 audits. His visit on July 3 to the Crawford Town Council brought especially good news.
Crawford's assets exceeded its liabilities by $2,655,806 as of Dec. 31, 2012. That's an increase of $134,870 in comparison to the prior year.
Governmental funds reported combined ending fund balances of $384,216, an increase of $8,304 in comparison with 2011.
The town's fund balance for the General Fund was $342,558, an increase of $230 over the previous year.
Blair commented that it is good that Crawford has remained stable in this economy.
General property tax, sales tax, and other tax totaled $73,946, or 61 percent of general revenues.
Expenses for 2012 for the general fund were budgeted for $138,406. Actual expenditures were $118,524.
The town transferred $19,419 for the capital improvement project at town hall. They had budgeted to transfer $35,000. The town took in $163,122 in donations, contributions and an historical grant for the town hall renovation and spent $169,619. By Dec. 31, 2012, there was $16,645 left from Phase I to go toward Phase II.
Blair stated that the Town of Crawford has enough reserve in the general fund to operate the town for two and a half years. Most municipalities have just six months of reserve. Crawford's reserve is the best of the three town's in the valley.
Regarding the town's Enterprise Funds for water and sewer, Blair said that raising sewer rates was a good thing. Because the town does not recuperate its depreciation in the water and sewer funds, the audit shows a negative net change of $53,654 for 2012. Total depreciation was $85,880. "What that is saying is that if you have to improve your system, you might not have the money available unless you raise your rates to offset your depreciation costs," Blair said.
"Overall the town looks very good financially," Blair said.blog comments powered by Disqus