Windsor debt notes decrease
Published 12:00 am Monday, January 14, 2008
WINDSOR – The annual audit report for the Town of Windsor turned up clean, according to Lowell Taylor of Pittard, Perry and Crone.
&uot;We do have a clean opinion on financial statements this year; what we call an unqualified opinion… we found no major errors,&uot; Taylor stated during last Thursday’s meeting of the town commissioners.
He said that the town’s assets exceeded its liabilities by 10 or 11 million dollars at the end of the year.
Windsor’s general unrestricted fund balance is approximately $600,000, or 40.7 percent of its general fund expenditures.
&uot;Compared to other municipalities, that’s on the lower side, but it’s a big improvement over 2006 when you were at 23 percent,&uot; Taylor explained.
In addition, the town’s debt decreased during the year and totaled about $750,000 at fiscal year’s end (June 30).
The water and sewer system showed a loss of $122,000, but as Windsor Mayor Bob Spivey pointed out, the town raised the rates during the last budget year to address that loss.
The town’s electric fund showed a $700,000 profit.
All in all, things looked positive for town officials.