Berwick’s finances for 2012-2013 got a clean bill of health in an audit that was presented and approved at council’s Sept. 10 meeting.
Finance Director Greg Towne presented the audited financial statements that showed the town’s general operating fund had a surplus of $16,778 for the year ending March 31, 2013.
The Berwick Electric Commission incurred a deficit of $48,396 in 2012-2013, down significantly from the previous year’s deficit of $155,257. Both revenues and expenses were lower than budgeted due to the fact that a major industrial customer started production later than expected. Towne said he expects the electric utility to return to a surplus position in the upcoming year.
Berwick stock-piled more money last year for its future by increasing its operating reserved by $148,500, from $35,527 in 2011-2012 to $184,027 in 2012-2013. The breakdown for the operating reserve included $1,581 for a skateboard park, a $2,500 election reserve, an un-allocated fund of $129,946 and $50,000 to the Kings Mutual Century Centre.
Towne summarized the town’s position “as generally positive in a lot of areas. It’s very good for the town.”