ENGLEWOOD, N.J. — The city’s auditor has indicated Englewood needs to keep an eye on its declining surplus, reported northjersey.com.
The city had about $5 million at the end of 2015, its lowest reserve amount since 2011, the auditor told the city council Tuesday night, said northjersey.com.
Scott Clelland, an auditor from Wiss & Company, said the small surpluses don’t provide officials with the needed ability to deal with emergencies, the northjersey.com story said.
Officials have used about $8.5 million of the city's surplus the past two fiscal years while replacing about $6.5 million, reported northjersey.com.
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