Important Tax Report

An Important Document for All Stratford Taxpayers

I recently received the Comprehensive Annual Financial Report, Fiscal Year Ending June 30, 2009, CAFR. The report is available on the town’s website but you must use the search box and type in CAFR. [Editor's note: The report is attached to this article in full as a PDF.]

This report is very readable, quite comprehensive and was awarded a Certificate of Excellence in Financial Reporting by the Government Finance Officers Association of the United States and Canada. By CT law, local municipalities are required to publish a complete set of audited financial statements. Blum, Shapiro & Company P.C. Certified Public Accountants for the town issued an unqualified opinion that the statements are “clean.”

The report begins with a town profile that includes debt, taxes, credit rating and is truly a credit to its author, the financial director, Mrs. Collier’s efforts. The next section is the financial report, which includes the independent auditors report -- Blum, Shapiro. The final section is the management‘s discussion and analysis -- Mayor’s office. All the numbers are there and are clearly comprehensive, accurate and readable. To understand them is another thing and best left to the experts, in my opinion.

However, on page 11 of 114, the town profile, there is a section on town economy. I found it to be quite interesting.

The report states that in 2009, 332 single-family homes sold for an average price of $252,148 in 103 market days. By 2010, single-family home sales totaled 324 units at an average price of $252,474 in a market time of 96 days. From Jan. 1 – Oct. 31, 2010, 41 businesses opened store fronts. Sikorsky Aircraft was issued 2 permits to build 2 additional structures “increasing its commitment to the town.”

The Army Engine Plant was put out to bid -- closing date at Jan 27, 2011. Four major parties are interested including Dog Star productions to “commence business Jan 2011.”  Sporting Goods, a division of Dupont, presented a plan to develop a light industrial park called Lake Success development.

As far as Long Beach West goes, we have demolished the cottages and are now waiting for the $10,000,000 from the state -- paid by 2013. The town hired a well-known arts consultant firm to assess the feasibility of Shakespeare Theater development, a yearlong project. 

According to the report, the Mayor has proposed the reinstatement of an Economic Development Director to support the business community and spearhead “varied Mayoral initiatives.”

Finally the report ends with significant beautification projects and the federally-funded Greenway project all adding “to the image of the Town as a hometown for young professionals and families.”

I am not in any way an expert on financial reporting but I know one thing for sure, I live in the “real” Stratford, the one in pause frame with the meter running. 

However, this place sounds pretty good, too bad it’s only “for young professionals and families.” I wonder where they would put the seniors.

Florida??