Troy-Rensselaer County Executive Kathleen M. Jimino recently reported the results of the County’s 2011 independent audit conducted by Drescher and Malecki LLP who once again found no material weaknesses in internal controls or accounting practices.
Drescher and Malecki LLP also noted that the County has continued to improve its fiscal position even in the tough financial times. The County ended 2011 with an increase in unassigned fund balance of over $800,000 while also setting aside over $1 million to pay for future increases in pension costs. The audit also recognized the improvement of the unassigned fund balance, i.e. rainy day fund, which has grown to $10.2 million.
“We continue to make the tough financial decisions to control spending thereby safeguarding the taxpayers’ dollar while preserving the vital functions we provide. This audit is further proof of our success in spite of the ever increasing demands of the state and federal mandates that consume 90 cents of every tax dollar we collect,” said Rensselaer County Executive Kathleen M. Jimino.
“I want to commend Michael Slawson, Chief Fiscal Officer, Stacey Farrar, Budget Director, and their staffs for the outstanding job of overseeing the County’s finances. I also want to commend our County employees and department heads for their adherence to my strict and conservative budgeting requirements. Their actions day in and day out to seek out any and all appropriate savings are making a difference in our fight to keep taxes affordable while we fund vital local services as well as pay the mandated bills the State drops onto our plate. I fear however that unless meaningful mandate relief is achieved non mandated services including those to pave, plow and patrol our streets as well as our senior and veterans services will no longer be available as we are forced to cut them so we can pay the State’s bills,” said Jimino