The Village of Mineola heard and accepted an independent financial audit report at its final October board meeting.
“Our audit confirms what you already know: the village is in excellent financial standing,” said William Barrett, a certified public accountant at the firm Rynkar, Vail & Barrett, which conducted the village’s independent audit.
The audit, presented jointly by Barrett and the firm’s senior manager, Alicia Zabala, provided an assessment of the village’s fund balances and schedules, spending, long-term liabilities and capital projects.
The audit showed that the village’s general fund balance has increased over the past eight years as it brought in additional taxes. It also highlighted the village’s most significant liabilities, including post-employment benefits and the employment retirement system for village employees, which Barrett stated the village has “no control over,” as the village’s obligations are dictated by the state.
Zabala confirmed the village was spending according to its budget across its different funds, like the water fund, capital improvement fund and general fund.
Barrett said the village was in a good financial place, despite uncertain federal and state conditions.
“In these times, with the federal government turning the spigot and less money coming from the federal government, I think there’s going to be less money coming from the state as well,” Barrett said. “As I said before, you’re in excellent financial condition to handle [an issue], should something adverse come about.”
After hearing and approving the audit report Oct. 22, the board approved the Mineola Athletic Association and the Kiwanis Club to use the village hall over the winter for soccer practices and a pancake breakfast, respectively at its final meeting last month.
The board also approved a $135,000 contract to start work on improvements to Memorial Park’s drainage system to prevent flooding.
“This is to remedy the occasional flooding that we get at Memorial Park right in front of the stage,” Mayor Paul Pereira said. “It’s not going to be that complicated. We’re going to put in some drainage so it will be able to drain better. That part of the park wants to be a lake; it wants to go back to what it was. Hopefully, this will mitigate those flooding issues that we have.”
The Mineola Board of Trustees meetings in November are set for Nov. 5, Nov. 12 and Nov. 19.
