2014 Audit

The Borough of Stockton's audit report for the fiscal year ended December 31, 2014, encompasses the financial statements of various funds and an account group. The audit was conducted by Suplee, Clooney & Company, Certified Public Accountants, and includes an independent auditor's report. The report assesses financial reporting, compliance with laws, regulations, contracts, grant agreements, and internal controls. The auditors noted that Stockton prepares its financial statements using accounting practices prescribed by the Division of Local Government Services, which differ from generally accepted accounting principles. There were no material weaknesses identified but some recommendations for improvement in fixed asset accounting and encumbrance systems.