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8/22/2012 - Hamilton’s Independent Audit Shows Stellar Financial Management and Performance for 2nd Consecutive Year

 

 

 

Hamilton’s Independent Audit Shows Stellar Financial Management and Performance for 2nd Consecutive Year

 

For a 2nd consecutive year, Hamilton Township’s municipal government has received an outstanding report of its financial management in its annual financial audit from a certified, independent municipal auditor.  The positive report indicates that the government is in strong financial position and continues to demonstrate outstanding financial reporting systems.

 

The audit, which includes no negative findings or recommendations for corrective measure   illustrates, from the perspective of an independent auditor, that Hamilton Township’s municipal government operations are being conducted in manner demonstrating excellent financial management and fiscal oversight – where recommendations for corrective actions have not been suggested. 

  

While Hamilton Township’s most recent audits contained no negative findings or recommendations for corrective action, a perfect audit is not an easy accomplishment.  For instance, Hamilton’s Fiscal Year 2007 audit reported 65 violations of public contract law.   Hamilton’s Fiscal Year 2006 audit found 90 violations of public contract law.

 

“We have come a long way from the 2007 audit,” says Hamilton Township Chief Financial Officer, John E. Barrett. “We have implemented financial controls and procedures  that makes sure every dollar is accounted for and recorded. I offer my thanks to the many hard working employees of the township that have adopted the reforms the current administration implemented.”

 

“For two, consecutive years, Hamilton Township has qualified for 100 percent of possible municipal property tax relief eligibility, thanks to our government’s conformance in achieving the highest level of state recommended best practices,”  continues Barrett.  “And although the best practices criteria is not within the purview of the financial audit, I believe it illustrates our administration’s continued efforts to ensure strong fiscal oversight controls and procedures.”  

 

Hamilton Township Business Administrator John Ricci agrees.  “Hamilton taxpayers continue to enjoy a stable municipal tax rate when compared with other towns, thanks, in part, to our government’s strong fiscal controls and management procedures.  Residents should know that these policies and continued monitoring of budget expenditures have led to the consecutive audits, which shows that our local government continues to operate effectively and efficiently.”