The City of Baldwin ended its 2007 fiscal year in the red by $177,000 in its General Fund, according to the recently released city audit. The audit, completed in May 2008, came nearly a year after Baldwin’s fiscal year ended in June 2007.
The audit also found six “significant deficiencies in the internal control over financial reporting.”
In its water department, Baldwin had positive net cash flow for the year of $106,700, but that was offset by a “prior period adjustment” of $113,000. The water department had an unrestricted cash balance of $221,900 at the end of the year.
For more information about the Baldwin audit, see the July 23 issue of The Banks County News.