Braidwood audit shows finances improving
By Mary Baskerville For The Herald-News August 8, 2012 11:08PM
Updated: September 10, 2012 1:42PM
BRAIDWOOD — Braidwood’s annual audit shows continued improvement in reducing the deficit.
That’s the conclusion presented by Mack & Associates for the fiscal year ended April 30 during the last regular city council meeting.
The report concludes:
— The deficit in cash balances of $76,999 is greatly improved over past years,
— Total revenue for the year ended stood at $3.2 million.
— City assets exceed liabilities by $52 million.
The report highlighted the city’s moves to improve equipment and infrastructure, citing the city’s $12 million expansion of the Waste Water Treatment Plant to “ensure that the City has the infrastructure in place for expected future development. Additional infrastructure is also being completed. Water mains, sanitary and storm sewers are being installed.”
Mayor Bill Rulien said the improvement is due to watching the budget line items in every department.
“There was a whole lot of effort to hold expenses down and reduce the deficit.” He pointed to the volunteer effort that saw city hall painted without cost: “The paint job didn’t cost a dime.”