(11/17) The Town of Thurmont’s Fiscal Year 2021 audit was presented at the Council’s November 16 meeting without disparities. The audit was performed in accordance with national and governmental standards and no reportable findings to the fiscal year budget.

The town’s total revenues for the fiscal year 2021 equaled $4,516,093 and expenditures totaled 4,375,759. The towns’ total liabilities and fund balance equaled $5,293,145.

Total general fund revenues of $4,516,093 in 2021 were derived primarily from tax revenues representing 66% of the total and intergovernmental revenue at 30%. The town’s million-dollar capital reserve is the same as the prior year.

This coming year will mark the final payment of approximately $172,000 on the new police department building dedicated in 2008. The previous year paid $168,000, according to Chief Financial Officer Linda Joyce.

The council praised the hard work of the auditors as well as the financial department and the entire town staff for their diligence.

"I also want to thank the town staff and department heads for keeping everything within their budgets. It’s always tough to craft a budget at the beginning of every year, but it’s just as difficult to keep yourself within that budget as the year travels through," Mayor John Kinnaird said.

Joyce credited collaborative communication between the departments as a contribution to the strong budget process. "There’s never a question that’s a dumb question," she said. "It’s my personal belief that we’re financially very secure in the town of Thurmont with our fund balances. I’m very proud to say that’s something that’s been carried on now for many, many years," Mayor said.

Decades of Thurmont history include commissioners and mayors ensuing a fund balance available for rainy days. This ‘rainy day’ fund totals $459,000, which is approximately 12% of expenditures, as per the town’s fund balance policy.

"You have a healthy fund balance for the general fund," Sampson said.

"A lot of communities aren’t as fortunate as we are and are very slim on any kind of fund balances," Kinnaird said. Chief Administrative Officer James Humerick recognized town staff for their work on the audit, saying that it is not typical for a municipality to receive a clear audit so many years in a row, but it has become typical for Thurmont. "Once again, we get an audit this year with no finding no recommendations… and it’s important that we keep moving in that direction."

It is not typical for municipal audits to return without any findings and the fact "that we get that year after year says a lot about everyone that is involved in this process," he said.

"Revenues are staying relatively flat, so the fact that we can put together an audit report like this with no recommendations, no findings, and still provide the level of services that we provide day in and day out, I don’t want to gloss over how important that is," Humerick said.