12
Presented by Michael Rolka, CPA, CGFM & Christina Dey Presented on August 11, 2020 Village of New Haven Audit Results March 31, 2020
Presented by
Michael Rolka, CPA, CGFM & Christina Dey
Presented on August 11, 2020
Village of New HavenAudit Results
March 31, 2020
Village of New Haven
Yeo & Yeo, P.C. 2
• CAN ONLY BE ISSUED BY A LICENSED CPA FIRM • HIGHEST LEVEL OF ASSURANCE • MANAGEMENT’S RESPONSIBILITY • AUDITOR'S RESPONSIBILITY • UNMODIFIED OPINION
– PRESENT FAIRLY– IN ALL MATERIAL RESPECTS– FINANCIAL POSITION
Audit Opinion
Village of New Haven
Yeo & Yeo, P.C. 3
General Fund Revenue – 2020
Village of New Haven
Yeo & Yeo, P.C. 4
General Fund Expenditures – 2020
Village of New Haven
Yeo & Yeo, P.C. 5
$1,320,089
$1,436,503
$1,476,876
$1,978,602
$1,759,836
$1,432,086
$1,618,787
$1,741,401
$1,644,406
$1,631,982
$1,200,000
$1,300,000
$1,400,000
$1,500,000
$1,600,000
$1,700,000
$1,800,000
$1,900,000
$2,000,000
2016 2017 2018 2019 2020Revenue Expenditures
General Fund Revenues and Expenditures
*Includes Other Financing Sources and Uses
Village of New Haven
Yeo & Yeo, P.C. 6
$949,280
$917,105
$956,750
$965,372
$1,040,691
$826,136
$853,759
$957,015
$985,330
$935,251
$750,000
$800,000
$850,000
$900,000
$950,000
$1,000,000
$1,050,000
$1,100,000
2016 2017 2018 2019 2020
Total Revenues Total Expenses
Water Operations
Village of New Haven
Yeo & Yeo, P.C. 7
$1,244,881
$1,309,819
$1,834,634
$1,486,007
$1,584,116
$1,459,576 $1,412,430 $1,553,005
$1,153,873 $1,196,943
$800,000
$1,000,000
$1,200,000
$1,400,000
$1,600,000
$1,800,000
$2,000,000
2016 2017 2018 2019 2020
Total Revenues Total Expenses
Sewer Operations
Village of New Haven
Yeo & Yeo, P.C. 8
$1,078,130
$895,846
$631,321
$965,517
$1,093,371
$500,000
$600,000
$700,000
$800,000
$900,000
$1,000,000
$1,100,000
$1,200,000
2016 2017 2018 2019 2020
General Fund – Fund Balance
Village of New Haven
Yeo & Yeo, P.C. 9
$70,638
$140,448 $140,412
$120,963
$197,821
$‐
$50,000
$100,000
$150,000
$200,000
$250,000
2016 2017 2018 2019 2020
Water Fund – Unrestricted Net Position
Village of New Haven
Yeo & Yeo, P.C. 10
$(1,200,572)
$(1,406,817)
$(1,234,687) $(1,038,687)
$(709,758)
$(1,600,000)
$(1,400,000)
$(1,200,000)
$(1,000,000)
$(800,000)
$(600,000)
$(400,000)
$(200,000)
$‐2016 2017 2018 2019 2020
Sewer Fund – Unrestricted Net Deficit
Village of New Haven
Yeo & Yeo, P.C. 11
• Letter to Village Council• Auditing process• Internal control matters identified during the audit
1. Significant deficiencies – None2. Material weaknesses
a. Deficit Fund Net Position3. Noncompliance
a. Final Budget Amendment• Management comments and recommendations
1. Unallowable Expenditures
Communication Letter
