Purcellville ends fiscal year 2009 with surplus
According to the recently released FY 2009 Comprehensive Annual Financial
Report (CAFR), the Town of Purcellville ended the fiscal year in a strong fiscal position.
The Town’s independent auditor, Robinson, Farmer, Cox and Associates, presented the CAFR for the fiscal year ending June 30, 2009 to the Ways and Means Committee on Monday night. The ending governmental fund balance was $6.5 million, an increase of $1 million which includes funds reserved
for capital projects and other obligations. Of this amount, $3.8 million was unreserved and undesignated or available for future spending needs, an increase of $622,000 over June 30, 2008. This reserve level is in keeping with the Town Council’s adopted fiscal policy target of $3 million.
“With strong, prudent fiscal management, the Town has been able to grow its rainy day fund from $2.2 million to $3.8 million over the past 3 years while adopting a tax rate that has cut or held the line on property tax for the average homeowner,” said Mayor Bob Lazaro. “It is a record that the staff and
Council can be proud of.”
The CAFR document also includes the Town’s first “Certificate of Achievement in Financial Reporting” presented by the Government Finance Officers Association of the United States and Canada for the June 30, 2008 report. This award recognizes governments whose CAFR reports achieve the highest standards in governmental accounting and financial standards.
The CAFR report is available as a PDF on the Town website www.purcellvilleva.gov
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Posted by admin
on Dec 20 2009. Filed under Purcellville News.
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