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Report: Aspinwall finances look good

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Wednesday, Aug. 14, 2013, 9:00 p.m.
 

Aspinwall officials are encouraged with how the borough's finances look halfway through the year.

Tom Golden, auditor, presented a study of the borough's finances to council members last week. He told officials that expenses for various departments are close or slightly above 50 percent at the halfway point of the year.

“Overall budget-wise, we're staying close to where we want to be,” Golden said.

Golden said revenue is up 6.6 percent from last year, and expenses are down more than 1 percent from last year. Not needing a tax-anticipation note last year made for a better budget this year, he said.

“We're running better revenue and slightly better on the expense side,” Golden said.

The borough will need to continue improving its reserves to ensure that it can survive any emergencies that might come up in the future, “so that if we have something occur, we can handle it without crisis,” Golden said.

Councilman Kevin Gordon said the borough's finances are improving with reserves increasing and pensions strong.

“Things have gone very well the last couple years,” Gordon said.

Gordon asked council members to review the report and mark down any questions on budget items so those questions can be answered.

“We'll resolve that in the next couple meetings,” Gordon said.

Gordon said there were no red flags in the report but planned to use it to get a closer look at the finances of the borough.

“We're obviously way better than where we were three or four years ago,” Golden said.

Tom McGee is an associate editor for Trib Total Media. He can be reached at 412-856-7400, ext. 1513 or tmcgee@tribweb.com.

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