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Midway audit shows sizable financial gain

According to a recent audit, the City of Midway’s finances are in good shape, the city’s auditor told Midway council members last Thursday.

At the July 5 Midway City Council meeting, Chris Moran of Quincy-based accounting firm Moran & Smith reported that, after years of losses, the city fund balance increased $60,870 in fiscal year 2016-2017.

“There still remains critical areas of concern that have been (and need to continue to be addressed) by the city’s administrative team to have a better audit for the 2017-2018 fiscal year, but with that being said, thanks in part to realigning the workforce, paying off substantially old debt and lawsuits, and being fiscally responsible with the city’s money in the latter part of the fiscal year, the city ended up in the positive in the amount of $60,870,” Moran’s audit analysis states.

The city originally budgeted to lose $30,000 this past fiscal year, but it managed to perform better than expected.

By Randall Lieberman