Groton Receives Clean Audit For Fiscal Year: Report

GROTON, CT — During its meeting Tuesday, the Town Council was told Groton has received a "clean" audit for the 2017 fiscal year, the New London Day reported. The news was revealed during a presentation to the council of the fiscal year 2017 Comprehensive Annual Financial Report.

A "clean" audit indicates the town has presented its financial books for the fiscal year in a manner both fair and accurate, according to the New London Day. It also indicates that any money the town received through state and federal grants was spent appropriately.

Officials said the report indicated an increase in the town’s general fund balance by about $1 million in the last fiscal year, according to the New London Day. The report also indicated the town holds an unassigned fund balance equal to 9.6 percent of its annual budget.

You can read more about the report's findings at the New London Day.

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