MIDDLETOWN – An audit of the City of Middletown’s books for 2018 shows the city’s cash balance is very strong.
A review by the RBT accounting firm found the city’s unreserved fund balance has also grown, said Linda Hannigan of the auditing firm.
“Your fund balance in your general fund increased this year and will see your unrestricted fund balance is approximately $10.5 million. That is a very strong balance sheet and will help you in getting bonding in the future.”
Hannigan said federal revenues of over $4 million helped Middletown have a sound balance sheet last year.
