South

Bridgewater

Auditor sees progress

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Bridgewater has made significant progress on its financial position since 2009, according to independent auditor Tony Roselli, who presented the fiscal 2012 audit to the Town Council Sept. 3. The town has budgeted more conservatively, made some cuts, and approved an override of the Proposition 2½ tax-limit law, he said in an interview. Combined with the beginning of an economic recovery, those actions have helped Bridgewater eliminate its deficit and establish reserves of about $2.2 million, he said. The town’s reserves total about 5 percent of the budget, a benchmark considered the minimum acceptable by credit-rating agencies, said Roselli, a partner at Roselli, Clark & Associates in Woburn. Selection of the treasurer-collector, a job that was recently converted to an appointed position, will be key to the town’s financial future, he said. The new treasurer-collector should have municipal experience, not solely a finance background, he said.