2022 Middlesex Borough Municipal Audit

The Borough of Middlesex's financial statements for the year ended December 31, 2022, were audited by Suplee, Clooney & Company, Certified Public Accountants. The audit included an examination of the various individual funds and account groups, including the Current Fund, Trust Fund, General Capital Fund, and Swimming Pool Utility Fund. The auditor issued an adverse opinion on the U.S. Generally Accepted Accounting Principles basis due to material variances, and an unmodified opinion on the regulatory basis of accounting prescribed by the New Jersey Division of Local Government Services. Key findings included a review of contracts and agreements, interest collection on delinquent taxes, delinquent tax collection procedures, payroll processes, and senior citizen/veteran deductions. The audit report recommends establishing a formal cash management plan, ensuring appropriate authorizations for third-party payroll providers, properly maintaining senior citizen/veteran deduction applications, and liquidating interfund balances more regularly. The audit report was dated May 25, 2023.