Audit shows 2006 budget was short
by JESSICA L. FINCH Associate Editor

An audit by Drescher and Malecki found that the Town of Amherst's 2006 budget was short $921,000, but a one-time credit from the state for $3 million kept the town from having a financial gap.

Comptroller Frank Belliotti said there was no "particularly bad news" for the town from the audit. The loss was not nearly as great as Supervisor Satish Mohan had first thought in May 2006.

In the end, the town was able to use the $3 million credit, part of its pension plan with the state, to fill the hole. The remaining $2.2 million was put into the fund balance.

As it now stands, the general fund balance is 11 percent of expenditures, and the total fund balance is 16 percent. The town is generally supposed to maintain a 10-15 percent range. The percentages are based on the 2007 budget.

In all, Belliotti said some budget lines were over and others under, but nothing drastic.

Due to The Amherst Bee's production schedule for the July 4 edition, details were not available about Belliotti's presentation to the Amherst Town Board during Monday's work session.

His comments, along with Tom Malecki's presentation at the July 9 work session, will be printed in the July 11 edition.

e-mail: jfinch@beenews.com