LIBERTY — The financial landscape for the Town of Liberty is “healthy” with no major issues noted, according to Andrew J. Arias of Arias Cooper LLP, who presented the findings of the 2024 audit before the Town Board on Monday night.

“Liberty does a very good job with reserves, I talk about this every year,” Arias said. “[You are] probably one of my best towns in the way you manage your reserves. You fund them every year and expend them when you need them on projects…”

In addition to the multiple sewer district reserves within the town, the main reserve accounts were identified as the General A, General B, Highway DA and Highway DB. As part of the audit, the firm looked at the town’s disbursements, receipts, payroll and procurement – the four major areas of every municipality, Arias noted.

Arias said that over $536,000 were added throughout the financial year in 2024. For all four accounts, there has been an upward trend since 2020 in the townwide unassigned and unappropriated fund balances.

Arias also pointed out that there were “no major internal control or compliance issues noted” within the report, and that any “minor issues” were “verbally discussed with the appropriate personnel.” 

The complete breakdown on the numbers presented by Arias can be found on the town website, www.townofliberty.org.

Before ending his report, both Arias and Town Supervisor Frank DeMayo  expressed their gratitude to Town of Liberty Director of Finance, Cheryl Gerow, noting that her diligence, organization and skills in record keeping ensured the town’s financial stability and health. Gerow received a round of applause from the residents attending the meeting as well. 

“I just want to thank Cheryl for doing a really good job in keeping us in line,”  DeMayo said, “and for [her] investment savviness.”