Audit: Greig needs better long-term financial strategies
GREIG, New York (WWNY) - The town of Greig needs to be better at planning for the future.
A state audit released Friday says the town board needs to adopt long-terms plans for its finances, so it is better able to replace equipment and other assets on a timely basis.
The audit points out that 15 of the town’s 27 pieces of highway equipment were past their optimal lifespans with no plans to replace them.
The lack of usable equipment contributed to the town being unable to use more than $73,000 of state funding as of the end of 2021.
Auditors also pointed out the town should have a written policy for its fund balance and reserve fund.
In response, town Supervisor Marilyn Patterson wrote that the audit “has given the town guidance on how to proceed” to make sure the town’s highway department has what it needs to maintain the town’s 57 miles of roads.
“The town has already begun the process of developing a long-term financial plan, with the specific goals of planning for the replacement of highway equipment and for the repair or improvement of the town’s three buildings,” Patterson wrote.
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