Phoenixville’s administration continues its sorry pattern of financial misreporting to the Council and the public. Needless to say, it’s in the Trash Fund, where the trash just won’t stop.
In a budget report submitted to Council, covering the first six months of the year, the administration reports “solid waste collection” charges of $948,805.21. Since for the first half of the year, the quarterly charge was $55.25, the corresponding revenues should have been around $570,401 ($55.25 times 2 quarters times 5,162 customers). So, what accounts for the $378,404.21 higher figure in the administration’s report?
Let’s just try dividing that number by 5,162 and see what we get.
Gee whiz, it’s $73.31.
Isn’t that pretty darn close to the new quarterly trash fee?
I get the funny feeling that our fiscal geniuses put the third quarter revenue into the figures for the first half year. What a set of accounting principles!
And, by the way, for some reason the first half year’s figures do not contain any of the $24,000 annual budget for workers’ compensation expense.
So, we have a revenue overstatement of $378K and an expense understatement of $12K.
Your $390K fudge is now ready.