3-1-05 tbMarch 1, 2005
New Scandia Town Board Meeting was called to order by Vice Chairman Michael Hinz. The
following Board Members were also in attendance: Vice Chairman Michael Hinz, Blair Joselyn,
Michael Harnetty and Nancy Madden. Chairman Dennis Seefeldt was in attendance at
approximately 7;20 p.m.
MR. DAVID STENS/EIDE BAILEY ------AUDIT REPORT FOR 2004
Mr. Stene reviewed each fund by graphics showing revenues, expenditures and fund balances of
each fund. Mr. Stene reported that the Township is in good financial condition and stated the
Town Board should be involved with management. Fund balances of revenues should exceed
25% to 50% of the expenditures. The park fund ended in a negative balance for the year of 2004
due to expense at the lighted ball field. The police fund, community center fund, and fire fund
have a low revenue balance and these funds should be increased.
Mr. Stene reported that the Township has good planning but expressed the weakness in tracking
the fixed assets and that most governments have the same problem.
Nancy Madden made a motion to adjourn.
Dolores Pete
/—J
New Scandia Township Clerk