The audit results for the 2007 municipal Metuchen budget are in six months late and includes a few critical findings.

“We have an audit that says we have problems with our internal controls and the work being performed managing our funds,” said councilman Justin Manley at the Jan. 20 Metuchen Borough Council meeting. “I think it is incumbent on us to get to the bottom of it.”

The 2007 municipal budget audit was conducted by auditing firm Ernst and Young (EY, company homepage). Among its more critical findings, the audit concluded that the borough overpaid “by a significant amount” the sum due for local school taxes and over-estimated the amount in the borough’s municipal budget at the start of 2008 by close to $30,000.

The audit was also completed approximately six months late. Read the full story