2017 Riverton Borough Audit Report

The Borough of Riverton's audit report for the fiscal year ended December 31, 2017, contains the independent auditor's report on the regulatory basis financial statements of the Borough. The audit was conducted in accordance with Government Auditing Standards and audit requirements prescribed by the Division of Local Government Services, Department of Community Affairs, State of New Jersey. The audit report includes the statements of assets, liabilities, reserves, and fund balances for various funds, including the Current Fund, Trust Fund, General Capital Fund, and Public Assistance Fund. The audit report also contains a report on internal control over financial reporting and compliance, identifying a significant deficiency regarding bank reconciliations not being completed on a monthly basis. The auditor's report outlines the management's responsibility for the financial statements and the auditor's responsibility to express opinions on these statements. Key financial statements and schedules are included, such as statements of revenues and expenditures, cash balances, taxes receivable, and fund balances. The audit also includes schedules related to Federal and State Grant Funds.