Audit Report
The Plainsboro Township Committee voted unanimously to accept an audit report prepared by WithumSmith & Brown, certified public accountants, during its meeting on September 9.
Plainsboro’s fiscal practices are, for the most part, in good shape, says Township Chief Financial Officer Greg Mayers, who reported that there were two findings in the report for the 2008 fiscal year.
The first finding dealt with a discrepancy in the recording of the township’s budget transactions from late 2008 to February, 2009, which Mayers said was the period of time the township did not have a CFO. Mayers began in early 2009. The second finding dealt with a discrepancy in a budget transfer that was not returned to the appropriate fund by the end of the 2008 fiscal year.
However, the two findings are not substantial, and for the most part, the township is in good shape, says Mayers. “They’re definitely in better shape here and in better financial condition than a lot of towns around, given the economic conditions,” he said.
The firm’s report analyzes whether the township prepares its financial statements in conformity with accounting practices set by the state Department of Community Affairs’ Division of Local Government Services.
