Politics & Government

Audit Reveals Half Million City Surplus

But officials say there's no "open bank" as Easton looks to control costs.

Easton ended last year with a $534,000 surplus, according to an audit released by the city Tuesday.

"That doesn't mean we have an open bank," noted City Councilman ken Brown, who heads council's finance committee.

In fact, even as city officials lauded their employees for keeping costs down, their message was clear at Tuesday's news conference: look for tougher times on the horizon.

Find out what's happening in Eastonwith free, real-time updates from Patch.

The audit -- which we've included here -- lists a few things to could potentially have a negative impact on city finances and that need to be watched moving into 2012 and beyond:

  • A decrease in tapping fees from the Easton Suburban Water Authority, caused by a downturn in suburban development.
  • Some large urban construction projects haven't been completed as planned, leading to lost revenue. (The audit says that "on a positive note, these important projects continue.")
  • The size and number of has declined. The audit notes that the city has "budgeted accordingly."

Mayor Sal Panto said there are other major expenses on the horizons as well. The City will soon need to rework its garbage contract. And in 2013 and 2014, it will have to pay off the balance of its $2.5 million settlement with Jack Cuvo, the championship wrestler who sued the Easton police for brutality

Find out what's happening in Eastonwith free, real-time updates from Patch.

Panto and other members of his finance team argued Tuesday that Easton is being hit by numerous external and internal factors: a bad economy, a loss in revenue from state and federal grants, high unemployment -- 10 percent in the city -- and

The audit noted some positives, including , something Panto and others attributed to unity among the administration and council.

He said the city is no longer a candidate for Act 47 --the state's financial recovery act -- the way it was six years ago. In fact, Panto's not even sure Easton qualifies anymore.

"The bad news is, I don't know if we won't qualify in a few years or so," he added.


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