Audit - 2023

This is the report of the annual audit for the Township of Woolwich, Gloucester County, New Jersey, for the year ended December 31, 2023. The audit includes financial statements for the various funds of the Township, including the Current Fund, Trust Funds, General Capital Fund, and the General Fixed Asset Group of Accounts. The report includes findings and recommendations, as well as a summary schedule of prior year audit findings. This audit was completed and submitted on July 31, 2024. The report also covers internal control over financial reporting and compliance with laws, regulations, contracts, and grant agreements, with an independent auditor's report included. The financial statements were prepared on a regulatory basis of accounting prescribed by the Division of Local Government Services, Department of Community Affairs, State of New Jersey. The report includes schedules of assets, liabilities, reserves, fund balances, revenues, and expenditures for each fund type. It also covers supplementary information such as cash statements, tax receivables, and grant fund details. Key areas examined include financial statement findings, questioned costs, and the status of prior year findings as prepared by management. The report also lists officials in office and their surety bonds.