Suggestions for Improvements to Financial Statements

Disclaimer: The ideas expressed above are the personal thoughts and opinions of Nate Covington and do not necessarily reflect the position of Barrett Township or its Board of Auditors.

Balance Sheet - On the left is a sample. On the right is Barrett’s. We should add more detailed information under assets such as land, buildings, and equipment:

missing assetsv3

Annual Budget - On the left is Barrett. On the right is an example budget report from Chestnuthill Township. It would be beneficial to add columns for (A) estimated vs. actual, previous years, and (B) “Notes” column:

budget comparison and notesv3