JULY 20, 2015 LAST UPDATED: MONDAY, JULY 20, 2015, 10:58 AM
BY MARK KRULISH
STAFF WRITER |
THE RIDGEWOOD NEWS
Enhancing financial reports for village officials and establishing an audit committee were among the recommendations given to the Ridgewood Council earlier this month by the Financial Advisory Committee (FAC).
During its annual report to the governing body, the group of Ridgewood volunteers tasked with providing the village additional financial oversight presented its submission and fielded questions from council members.
FAC Chairwoman Nancy Johansen suggested that financial reports given to council members and management have a “profit and loss” section similar to what might be seen in a corporate environment. This would help the council track its budgetary expenditures throughout the year to see if the village is trending above or below its budget.
Johansen added the FAC would work with new Chief Financial Officer Bob Rooney on this particular project.
https://www.northjersey.com/news/council-sees-benefits-to-fac-s-recommendations-1.1377459
