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Welcome to the Town Accountant

The Town of Nahant Accounting Department is responsible for the maintenance of all financial records to insure compliance with federal, state and local laws and regulations and for oversight of all departmental appropriations. This includes recording all Town expenditures and assuring that departments operate within their annual appropriations.

The Accounting Department audits all departments and reports the Town's financial status on an annual basis. The Department is also responsible for accounts payable, water and sewer billing and retirement administration.

The mission of the Accounting Department is to insure that the appropriate financial and auditing controls within the Town are maintained in an efficient, cost-effective and responsible manner.

Welcome to our document archive. Select the fiscal year on the left to view all the supporting documents in Acrobat (PDF) format.

List Town Accountant
  Contact
Phone
Fax
Email
Deborah A. Waters
(781) 581-0099
(781) 581-6561
dwaters@nahant.org
List Assistant Town Accountant
  Contact
Phone
Fax
Email
Lisa Arena
(781) 581-0099
(781) 581-6561
larena@nahant.org
List Nahant Town Hall Hours
 

Monday through Thursday
Friday

7:30 AM - 4:00 PM
7:30 AM - 12:30 PM

Town Accountant’s Report – Fiscal Year 2017

Fiscal Year 2017 was a good year financially for the Town of Nahant.  The Certified Free Cash is $967,378. (Free Cash is the fund balance less mandated  state adjustments-See next page.)   This was larger than normal due to Kathy Famulari and Jeff Chelgren pursuing outstanding tax title accounts. We must continue to be careful in order  to grow and avoid a free cash deficit.  The Town's revenue budget is only an estimate.  This revenue budget is what supports  the appropriation budget.  It is prudent  to leave some free cash available for any revenue deficits, other unforeseen events that can occur and capital improvements. The future years will require  reduced appropriations and/or an override.  The certified Water/Sewer Enterprise Fund balance is $131,793 and the Rubbish Enterprise Fund balance is $179,332 for Fiscal Year 2017. Water/Sewer Enterprise Fund is at the lowest in years due to sewer emergency.

Thanks again to all who have worked to maintain a positive fund balance again in FY 17. Special thanks to all of the departments who work diligently to stay within their budgets and all of the wonderful  people who donate so much of their time to make Nahant a better place.

The town's outstanding debt as of 6/30/17 is $8,465,524 - $4,058,090 is in long-term debt and $2,998,834 is in temporary short-term debt. The Authorized  and Unissued Debt totals $1,408,600: $9,900 as voted borrowing article during Apri125, 2015 Annual Town Meeting and $1,398,700 as voted borrowing articles during Apri129, 2017 Annual Town Meeting as detailed in the attached  Statement  of Indebtedness. During Fiscal Year 2017 the Board of Selectmen, the Finance Department and the Finance Committee have tried their best to support necessary capital improvements with minimal borrowing, stabilize the water and sewer rates and rubbish rates and maintain  a stabilization fund, all the while supporting ever increasing  budgets for a better Nahant.  These are great goals that took a tremendous deal of planning and hard work and are becoming more and more difficult to attain.

On the following pages are reports that cover the twelve-month period from July 1, 2016 through June 30, 2017. (FY 17)  Please take time to review these reports.  Additional information or clarification  desired by a Nahant resident will be gladly furnished  upon a written request.

The combined statement of revenues, expenditures and changes in fund balances, the combined balance sheet, the business-type changes in net position and statement  of net position for fiscal year ending 6/30/17 are prepared  by the Town of Nahant's  auditors, CliftonLarsonAllen, LLP.  All other reports are prepared in-house.

Also, the FY 2018 appropriated budget and expenditures are included at the end of this report.  The actual expenditures are through 12/31117. (Due to turnover in Treasurer's office, this is only estimated, not reconciled)  We anticipate  using the remaining funds during  the fiscal year and there are shortages.  There may be reserve fund transfers and additional appropriations during the Annual Town Meeting on April28, 2018, as is usual and can be seen in the FY 17 Town Meeting Transfers and the Reserve Fund Activity Reports included for FY 17. Hopefully, there will be some unexpended appropriations to close to free cash.

Respectfully Submitted,
Deborah A. Waters
Town Accountant

Acrobat Logo Icon FY' 2017 Acrobat Document For Download (PDF)
  FY 2017 Financial Report (Complete)

Town Accountant’s Financial Report Archive - PDF Format

Acrobat Logo Icon FY' 2017 FY 2017 Financial Report (Complete)
Acrobat Logo Icon FY' 2016 FY 2016 Financial Report (Complete)
Acrobat Logo Icon FY' 2015 FY 2015 Financial Report (Complete)
Acrobat Logo Icon FY' 2014 FY 2014 Financial Report (Complete)
Acrobat Logo Icon FY' 2013 (PDF)
  FY 2013 Free Cash (Fund Balance)
  FY 2013 Appropriations
  FY 2013 Revenue Report
  FY 2013 Revenue Detail
  FY 2013 Governmental Funds
(Revenue, Expenditures and Changes)
  FY 2013 Transfers of Funds (Town Meeting)
  FY 2013 Reserve Fund Activity
  FY 2013 Short Term BANS
  FY 2013 Balance Sheet
  FY 2013 Statement of Indebtedness (DOR)
  FY 2013 Appropriations
Acrobat Logo Icon FY' 2012 (PDF)
  FY 2012 Free Cash (Fund Balance)
  FY 2012 Appropriations
  FY 2012 Revenue Report
  FY 2012 Revenue Detail
  FY 2012 Governmental Funds
(Revenue, Expenditures and Changes)
  FY 2012 Short Term BANS
  FY 2012 Balance Sheet
  FY 2012 Statement of Indebtedness (DOR)
  FY 2013 Appropriations
Acrobat Logo Icon FY' 2011 (PDF)
  FY 2011 Free Cash (Fund Balance)
  FY 2011 Appropriations
  FY 2011 Revenue Report
  FY 2011 Revenue Detail
  FY 2011 Governmental Funds
(Revenue, Expenditures and Changes)
  FY 2011 Transfers of Funds (Town Meeting)
  FY 2011 Reserve Fund Activity
  FY 2011 Balance Sheet
  FY 2011 Statement of Indebtedness (DOR)
  FY 2012 Appropriations
Acrobat Logo Icon FY' 2010 (PDF)
  FY 2010 Free Cash (Fund Balance)
  FY 2010 Appropriations
  FY 2010 Revenue Report
  FY 2010 Revenue Detail
  FY 2010 Governmental Funds
(Revenue, Expenditures and Changes)
  FY 2010 Balance Sheet
Acrobat Logo Icon FY' 2009 (PDF)
  FY 2009 Balance Sheet
  FY 2009 Revenue Report
  FY 2009 Revenue Detail
  FY 2009 Governmental Funds
(Revenue, Expenditures and Changes)
  FY 2009 Free Cash (Fund Balance)
  FY 2009 Appropriation
Acrobat Logo Icon FY' 2008 (PDF)
  FY 2008 Balance Sheet
  FY 2008 Balance Sheet
  FY 2008 Revenue Report
  FY 2008 Revenue Detail
  FY 2008 Governmental Funds
(Revenue, Expenditures and Changes)
  FY 2008 Free Cash (Fund Balance)
  FY 2008 Appropriation
Acrobat Logo Icon FY' 2007 (PDF)
  FY 2007 Balance Sheet
  FY 2007 Revenue Report
  FY 2007 Revenue Detail
  FY 2007 Governmental Funds
(Revenue, Expenditures and Changes)
  FY 2007 Free Cash (Fund Balance)
  FY 2007 Appropriations
Acrobat Logo Icon FY' 2006 (PDF)
  FY 2006 Balance Sheet
  FY 2006 Balance Sheet
  FY 2006 Revenue Report
  FY 2006 Revenue Detail
  FY 2006 Governmental Funds
(Revenue, Expenditures and Changes)
  FY 2006 Free Cash (Fund Balance)
  FY 2006 Appropriations

 
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Last Website Update: February 23, 2018 4:16 PM  
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