Borough of Waterford – Erie County – Liquid Fuels Tax Fund for the Period January 1, 2023 to December 31, 2023

An independent auditor’s report was conducted on the Borough of Waterford’s Liquid Fuels Tax Fund for the period from January 1, 2023, to December 31, 2023. The audit entailed reviewing Form MS-965 With Adjustments, requiring compliance with attestation standards set by both the American Institute of Certified Public Accountants and Government Auditing Standards. The audit’s primary focus was confirming adherence to criteria established by Pennsylvania laws and the Department of Transportation’s Publication 9. A significant finding was the nonpermissible expenditure of $12,168 for crack fill with fiber, which was reimbursed after the audit period. Despite this issue, the financial report was found to be materially aligned with the necessary requirements. The auditors reported no significant deficiencies in internal control that could lead to material misstatements. The report emphasizes that the examination aimed to assure proper financial presentation rather than assess compliance comprehensively. The report underscores the need to resolve any discrepancies to ensure the proper allocation of