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$5 Million Surplus Found in Wilton Audit

WILTON, Conn. – The town of Wilton came in about $5 million under budget during the 2010-11 fiscal year, according to a report by auditors.

The report made to the Board of Finance by the accounting group O’Connor Davies Munns Dobbins LLC said town revenue was up by more than $500,000 and said the town had spent $5 million less than was budgeted.

A net gain of about $2.1 million had been expected for the 2012 budget, said Vice Chair Lynne Vanderslice. The extra $3 million, she said, “becomes money available to reduce future budgets.” The board said it will recheck the figures.

Board member Andy Pforzheimer asked whether any outmoded methods were found during the audit and whether the system was lacking in any way.

According to Wilton Chief Financial Officer Sandy Dennies, many of the concerns found by the audit will be addressed because the town is buying new software. The Board of Selectmen approved the purchase of New World Systems at its meeting Monday, Dec. 19, and it will be installed in January.

“The new system that we are purchasing, it will allow us to overspend by line item as long as we are spending within the department budget,” Dennies said. The system will give each department the flexibility to use its money where it is needed the most, before having to request additional funding from the board.

Dennies said all of the audit's recommendations were welcomed and generally agreed on. 

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