Audit shows borough's finances in good standing


March 11, 2021

Data courtesy of the Petersburg Borough

Listed above are the statements of revenues, expenditures and changes in fund balances for the Petersburg Borough during the 2020 fiscal year.

An audit of the borough's finances for the 2020 fiscal year reveals an overall positive change in the borough's net position from July 1, 2019 through June 20, 2020, according to documents presented to the Borough Assembly at their Feb. 22 meeting.

The audit was conducted by BDO and was presented to the assembly by Sam Thompson, an auditor with the accounting firm. The audit showed a positive change in the net position of $825,913 for the 2020 fiscal year. Additionally, the unassigned fund balance at the end of the fiscal year resulted in approximately seven months-worth of General Fund ex...

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