Summary
Auditors for the Town of Amherst said that the town ended 2009 in "stable" financial shape but warned that the $10 million in reserves the town plans to spend this year will create a giant budget hole in 2011.
"So that's the scary part," said Thomas P. Malecki, a partner in Drescher & Malecki. "They have to replace that $10 million for the 2011 budget."See the full content of this document
Extract
Finances 'Stable,' but Deficit Looms for '11
Town Comptroller Darlene A. Carroll said that only $5 million to $6 million in reserves will be available for use in 20...
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