It’s been two years, but the audit of Binghamton which began in 2011 is officially complete. The audit was delayed for nearly a year due to lack of staff, the flood in September of that year, and a state audit occurring at the same time. The city’s expenses came in $1.5 million less than its 2011 income. The surplus funds were added to the general fund, which now includes a $6 million of reserve, or rainy day fund. Although the city was solvent, the surplus shrunk by more than 65 percent from 2010. Mayor Matt Ryan says the key to allowing the city to stay within its resources going into the future will be for leaders to take a fiscally conservative approach. Ryan even criticized the current mayoral candidates for not addressing these concerns. The biggest problems that the auditors cited was the risks of fraud inside city government. The audit made several recommendations to protect taxpayers, including posting signs warning residents never to write a check in a government worker’s name, and making sure taxpayers know that cash transactions are only accepted through the treasurer’s office.
