WAUSAU - The Town of Wausau received good news when council members resumed their previously recessed meeting Tuesday night.


WAUSAU - The Town of Wausau received good news when council members resumed their previously recessed meeting Tuesday night.



Hilton Galloway of accounting firm Carr, Riggs, & Ingram presented the council with the annual audit of the town's finances and gave praise for what he declared a significant improvement from past years, in which the town had struggled financially.



"Not only have you stopped the negative trend, you’ve reversed it," said Galloway. "You didn't add any debt last year and didn't have to add a line of credit. It's a positive trend and a good place to be."



Wausau also stepped up utility collection efforts and reduced bad debt owed to the town from $12,000 to $6,000.



The town saw a $33,441 increase in assets and a $4,522 decrease in liabilities since last year. As of September 30, 2014, the town's governmental funds combined ending in an unassigned fund balance of $39,934.



Additionally, Galloway praised council members for eliminating debt, stating with the exception of the a firetruck, the town is virtually debt free.



"Hold this current trend, and you will find yourself in a cash position," he said.