Excess cash piled up while planning fell short in the village of Weedsport, according to a state comptroller’s audit.
The review found the village board over three years approved tax levies higher than needed and failed to effectively manage fund balances. Auditors said officials underestimated revenues, built budgets that appeared deficit-bound but ended in surpluses, and lacked written multi-year financial and capital plans.
The audit also warned that weak reserve planning could drive up future costs, pointing to a $20 million water project that may force residents to absorb new debt. Village leaders agreed with the findings and said they’re updating policies and developing long-term financial plans.
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