Audit: Ogdensburg is financially stable
Ogdensburg. The borough “passed with flying colors, and financially the borough looks stable and good,” said its chief financial officer.
Ogdensburg Borough is financially stable, chief financial officer Mike Marceau told the council at its Oct. 25 meeting.
Marceau reviewed the borough’s 2020 audit with the council. He said the fund balance increased by about $110,000, and the water utility is down about $125,000. He said revenues will increase now that Covid-19 cases are going down, and the water utility rates ordinance has passed.
Marceau said the audit recommended “adequate segregation of duties,” but the borough does not have the staff or budget to separate all financial duties.
However, he said, Ogdensburg “passed with flying colors, and financially the borough looks stable and good.”
The council reviewed the comments in the audit and unanimously certified it. The council also unanimously approved the corrective action plan prepared by Marceau.
In addition, the council unanimously introduced an ordinance to increase water rates and certain fees. A public hearing on the increases was held Nov. 8.