Owego Bookkeeping Criticized

Bob Joseph/WNBF News [file][/caption]The Town of Owego is being criticized in a New York State audit for what the comptroller’s office says is an inappropriate amount in the general fund balance town-wide and town outside-village over the past three years.

The Town was also cited for not having a formal plan to use accumulated fund balances and may have missed a chance to lower the tax levy.

Town officials said they had trouble getting answers from the state about fund balance amounts until the audit came out and plans to adopt a fund balance policy at the organizational meeting in January.

Officials had said they had planned to use some of the money for renovations to the town hall and park facilities, building a gravel pit and continuing repairs from the 2011 flood.

The Town says, since the audit, work on the town hall renovations have begun.