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Sales tax collections down for village of Massena

Posted 2/23/24

MASSENA -- Sales tax collections are down across most of the state, with the village of Massena also feeling the crunch.

In a recent board of trustees meeting, Treasurer Kevin Felt said …

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Sales tax collections down for village of Massena

Posted

MASSENA -- Sales tax collections are down across most of the state, with the village of Massena also feeling the crunch.

In a recent board of trustees meeting, Treasurer Kevin Felt said collections were down nearly $23,000 from the same period last year.

Collections for the last quarter totaled $577,673, bringing the fiscal year total to $1,193,567 or 51% of the budgeted amount of $2,350,000, Felt said.

Felt also informed trustees that the village made a $66,840 principal payment on the long-term SIB bond for the wastewater plant improvement and sewer line replacement project.

The zero-interest long-term financing for the project will be paid off in 2049, he said.

Felt also informed trustees that the village's new auditors, Fust Charles, will be delayed in conducting the on-site audit.

The original plan was for auditors to be on site sometime in late December or early January to complete the in-house portion of the fieldwork on both internal controls and financial portions of the audit, however that has not been completed.

A draft of the report was expected by mid-January and a plan was in place to have the final report completed by the beginning of February, Felt previously said.

"I have attempted to contact them and have sent another email and have not heard a word from them," he told trustees.

Felt said he was previously told that due to the delays the financial statements would first be reviewed and should be available for presentation at the next board meeting on March 18.

In other action, the village is also converting the New York State Retirement reporting platform from the Legacy system to the Enhanced.

The transition should take three months, Felt said.