A recent audit of the town has found its finances “solid and well-managed,” while drawing attention to a multimillion-dollar post-employment benefits liability still looming over every budget.
Melanson & Heath, a New Hampshire-based accounting and tax firm, presented information from its audit to the Town Council this week. The firm gave Franklin an unqualified opinion, meaning it believes the town’s financial statements are sound and free from any material misstatements.
Karen Snow, an accountant with Melanson & Heath, highlighted the town’s upgraded bond rating, which improved last year from AA to AA+.
“Part of the reason (Standard & Poor’s) upgraded that is because they feel you have a nice solid fund balance and you don’t have any plans to spend that fund balance down,” Snow explained.Continue reading the MDN article here
http://www.milforddailynews.com/article/20150403/NEWS/150408041/1994/NEWS
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| Franklin Municipal Building |
My reporting on the audit results can be found here
http://www.franklinmatters.org/2015/04/this-purple-heart-community-received.html
The 2014 audit results can be found here
http://www.franklinmatters.org/2014/03/what-is-public-need.html
The 2013 audit results can be found here
http://www.franklinmatters.org/2013/02/town-council-020613.html
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