2020 Audit

The Borough of Stockton's audit report for the year ending December 31, 2020, reveals the financial standing of various funds, including the Current Fund, Trust Fund, General Capital Fund, Water Utility Fund, and Sewer Utility Fund. The report provides an independent auditor's assessment of the financial statements, supplementary schedules, and data. It includes details on fund balances, revenues, expenditures, assets, and liabilities for each fund, alongside relevant notes and statistical data. It also touches upon long-term debt, pension plans, and risk management strategies. Key issues identified include professional service contracts and interfund balances.