During this audit we examined the financial records and procedures of the Town for the period January 1, 2001 to December 31, 2004.
In addition, the Town has been unable to maintain adequate cash flow, requiring the issuance of a short-term borrowing in August of 2004 for $1 million and the use of interfund advances totaling approximately $4 million as of December 31, 2004.
In May of 2005, prior to the repayment of the $1 million borrowed in August of 2004, the Town issued a second short-term borrowing for $1.924 million to be repaid from a budgetary appropriation in the 2006 general fund budget.
The Town of Greece is in the western part of the county and borders the City of Rochester on the east, the town of Gates on the south, the towns of Parma and Ogden on the west, and Lake Ontario on the north.
The town is a contiguous suburb of Rochester.
In the town the population is spread out with 25.0% under the age of 18, 7.0% from 18 to 24, 28.4% from 25 to 44, 24.2% from 45 to 64, and 15.3% who are 65 years of age or older.
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