By CRAIG FREILICH

POTSDAM -- The town’s auditors reported “nothing of significant concern” and “no deficiencies in internal controls” in their review of the town’s books for 2017.

Accountant Ed Mucenski of Potsdam firm Pinto, Mucenski, Hooper, VanHouse & Co., CPAs, PC, delivered his report and summarized his findings for the Town Council May 8.

While the main emphasis of the audit was about compliance with accounting practices, and offering an opinion on the town’s internal controls was not a focus of the audit, Mucenski said, “If I had seen anything awry with internal controls, I would have sent something” to notify the town of the firm’s concerns.

The balance sheet indicated the town holds $8,808,539 in fixed assets, which include $6.5 million in buildings and $3.2 million in equipment.

Long-term liabilities of $1,388,176 included $551,402 in potential judgments and claims against the Workmen’s Compensation Fund, $331,393 in bonds payable, and $348,401 in other liabilities such as pension payments.

The general fund’s fund balance stood at $$776,902, and the special revenue fund balance stood at $581,047, most if which, $524,298, is from the Highway Department account, which benefitted from higher funding from the state than the town had budgeted for.

The fund balances are “healthy,” but “are not excessive,” said Mucenski. “They’re not hoarding. They’re making an effort every year to use the balance and to keep taxes down.

“They’re in pretty good shape,” Mucenski said. “They’re not heavily in debt and everything seems to be going smoothly.”