LIBERTY – The Town of Liberty is in “very good” financial condition according to an independent audit presentation delivered at the latest town board meeting. It highlighted consistent budget outperformance and growing fund balances across multiple accounts.

Andrew Arias of Cooper Arias LLP outlined the towns’ 2025 audit, noting that several major funds exceeded expectations. The general fund alone outperformed projections by more than $400,000, aided by higher-than-expected mortgage tax revenue, interest income and unbudgeted cannabis revenue totaling approximately $45,000. Health insurance costs also came in under budget.

Similar trends were reported across highway and town-wide funds, with officials consistently spending less than anticipated while revenues exceeded projections. However, Arias cautioned that some fund balances, particularly in the general B fund, are approaching levels that could draw scrutiny from the state’s comptroller, which typically recommends maintaining reserves at 10-20 percent of annual expenditures.

“The town financially is in very good shape,” Arias said, while advising board members to consider how excess fund balance could be used strategically, including potential tax relief or future capital planning.

The board also heard from representatives of Marshall and Sterling regarding the town’s insurance coverage. While Liberty saw a modest four percent overall increase, lower than many municipalities facing hikes of up to 15 percent, officials were urged to prioritize cybersecurity protections amid a rise in municipal cyber attacks. Enhancing internal controls could help the town qualify for broader and more affordable cyber insurance coverage.

As the meeting continued, the board approved routine financial actions including abstract claims totaling more than $686,000, monthly reports, and the purchase of a new Dodge utility truck. Several infrastructure related items were also approved, including expenditures from the Swan Lake Sewer Capital Reserve for temporary equipment and maintenance services as well as steps towards securing grant funding for the improvements to the white Sulphur Springs water system.

During the public comment portion of the meeting, a resident raised concerns about the ongoing construction project on O’Keefe Hill Road, alleging that work is proceeding without proper planning board approval or required environmental review. The speaker also criticized road conditions and called for stronger enforcement of local regulations. The board said they would review the concerns.