This year, in conjunction with its annual audit, Media Borough prepared its first Annual Comprehensive Financial Report (ACFR). This significant accomplishment marks a major step towards increased transparency and accountability for the Borough.
Traditionally, the Borough has presented basic financial statements and disclosures along with a comprehensive budget annually. However, this year things have been taken a step further by preparing an ACFR. This report includes significantly more data, narrative explanations, and underwent a thorough audit process.
According to Jonathan Wascovich, CPA and Acting Finance Director of Media Borough, the decision to prepare an ACFR was driven by a desire to provide a complete, clear, and credible picture of the Borough's financial condition and long-term outlook. The report is available to the public on the Media Borough website here: https://www.mediaborough.com/DocumentCenter/View/2455/2024-Annual-Comprehensive-Financial-Report
Preparing an ACFR for the first time is a major undertaking that speaks to the Borough’s commitment to financial transparency. The release of Media Borough's first Annual Comprehensive Financial Report is an important milestone. It showcases the Borough’s dedication to responsible financial management and provides valuable insights into financial performance.
View the AFCR here
View the current budget here
