At the Town Council meeting of January 22nd, the Town’s auditing firm, Blum, Shapiro & Company, P.C., gave an unqualified clean opinion regarding the Town’s finances for the year ending June 30, 2007.  It was noted that for the 14th consecutive year, the Town has received the Certificate of Achievement for Excellence in Financial Reporting from the Government Finance Officers Association.  The Town’s undesignated, unreserved fund balance, which by industry standards should be between 8%-12% of Town expenditures, grew by $575,205 to 9.9% of Town expenditures.Higher-than-anticipated interest earnings on investments as well a higher rate of tax collections coupled with savings in a variety of different municipal accounts allowed for the growth in fund balance.  Following the presentation, the Town’s financial advisors, Webster Bank, gave a presentation of the Town’s debt service as it relates to the proposed five year capital plan as presented by the Town Manager.  The fiscal indicators show that the Town’s debt levels are in the average range when compared against towns of 20,000 or less population nationwide.  More information on these documents is available on the town’s website in the Finance Department section, on their “Reports” page; you may click here to access this page. Please also be aware that there will be a public hearing on the capital plan on February 28th in the Council Chambers on the sixth floor of Hicks Memorial Municipal Center (town hall) at 7:30 p.m.  For more information you may call the Town Manager’s Office at 871-3600.