State audit of Saratoga Springs completed
State Comptroller Thomas P. DiNapoli today announced his office completed an audit of the City of Saratoga Springs, as well as audits of nine other municipalities and organizations outside the region.
According to the audit, Saratoga Springs' unexpended surplus has significantly increased from $165,723 on Dec. 31, 2006 to $6.2 million on Dec. 31, 2011. The 2012 general fund budget of $37.2 million appears on track with city officials not anticipating an operating deficit. Also, while the financial condition of the water and sewer funds improved during the audit period, the water fund balance continues to remain in a deficit.
View the full audit.
“My office's audits of local governments improve their financial management practices," DiNapoli said. "These audits are tools for local officials to make sure proper policies and procedures are in place to protect taxpayer dollars and provide the best possible service these taxpayer dollars can deliver."