City of Hornell Financial Audit Receives A+
From City Hall,
The Common Council met for their September meeting and received the annual audit review from Erica Handley of Drescher & Malecki LLC. The review encompassed the City’s governmental funds, including the City’s Water and General funds. Overall, the City was provided with an A+ letter grade assigned to the audit.
Handley highlighted the independence of the auditors to ensure a fair and unbiased assessment. There were no weaknesses, no compliance findings, no deficiencies, and no other issues found during the review. The audit confirms that appropriate procedures are followed when allocating funds, including local funds, such as taxpayer dollars, as well as state and federal funds.
Mayor John Buckley noted, “Residents expect local government to manage finances successfully, and we are proud of our series of clean audits. The health of the City’s finances is in good shape, with revenues slightly exceeding expenditures. I would like to extend my appreciation to Michele Smith, City Chamberlain, as well as the Finance Committee, City department heads, and the Common Council for their hard work day in and day out to ensure we maintain a sound financial outlook.”
During the audit presentation, Handley provided a ten-year lookback of the City’s general fund revenues and expenditures. The review showed a significant rise in expenditures beginning in 2021 following the pandemic. The City was able to keep pace with those expenses and add to the fund balance. This includes the unrestricted fund balance, which is a crucial piece to ensure the City remains financially strong, stable, and able to weather unexpected challenges.
City Chamberlain Michele Smith emphasized the broader importance of the audit results, stating, “Responsible financial management is essential to ensuring residents can rely on stable services today, as well as into the future. This successful audit review reflects the dedication of everyone who helps keep the City’s finances strong for the community.”
