by Larry Chowning –
Middlesex County’s auditor Paul Lee of Robinson, Farmer, Cox Associates PLLC gave the Middlesex County Board of Supervisors some good financial news at the supervisors’ Jan. 5 meeting.
The annual audit report was for fiscal year 2019/2020, which concluded June 30, 2020. Lee told supervisors that the county is doing well financially during the COVID-19 pandemic. He noted that sales taxes from citizens buying locally has “actually increased.”
He also noted in “financial highlights” that the county’s assets and deferred outflows of resources of the county exceeded its liabilities . . . at the close of the fiscal year by $19,023,703.
The audit also reported revenues and other financing sources over expenditures during the fiscal year — which included funding $10,212,244 to schools — increased by $442,577 in comparison with the prior year.
As of the close of the fiscal year in June, the ending assigned and unassigned fund balance of $12,530,440 was an increase of $442,577 in comparison with the prior year…
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