2023 Afs

The Borough of Englishtown's audit report for the year ending December 31, 2023, includes independent auditor's reports, financial statements for various funds (Current, Trust, General Capital, Water Utility, Sewer Utility, Solid Waste Utility, Payroll, and General Fixed Assets Account Group), and related notes. The audit was conducted in accordance with generally accepted auditing standards and Government Auditing Standards. The report expresses an unmodified opinion on the regulatory basis financial statements but an adverse opinion on U.S. Generally Accepted Accounting Principles due to material variances. Key findings include issues with timely general ledger maintenance. The auditor noted that all contracts and agreements have been properly advertised, and interest collections on delinquent taxes are also within established guidelines.