The city of Auburn is in pretty good financial shape, according to an annual audit released this week. But whether that is enough to buffer it from the coming economic storm has yet to be seen, according to a representative from the auditor.

Roger Beer, from Green and Seifter, PLLC, commended the Auburn City Council and staff Thursday for the city's stable finances and quality reporting. Reviewing a report of the fiscal year ending June 2008, Beer said most of the city's funds recorded higher revenues than expenses, as well as higher revenues than the prior year.

Beer also said the city has been aided by impressive sales tax revenues and especially low health insurance costs. But economic factors may not guarantee easy financial times in the future, he warned.

“This is not a guarantee for anything going forward,” Beer said. “We all know that things are going to change.”

According to city Comptroller Lisa Green, Auburn is in a better position financially than many communities as the country faces this recession. But she also said she does not expect revenues to go up next year, despite the fact that expenses never go down.

“If our revenues are fairly stable, we have to somehow look to control cost,” Green said.

City department heads have been asked to look through their budgets and find places that can handle cuts, Green said. And a citywide directive is also in place to monitor and reduce overtime spending.

But it's not all doom and gloom, Green continued. The governor's proposed budget shows Auburn's state aid remaining the same. And sales taxes are expected to be stable, she said.

“If our fund balance wasn't as healthy as it is, we would be much worse off going forward,” Green said.

When addressing council, Beer congratulated Green and the city's financial department for its year's stellar work. The city has been recognized 10 years in a row with a certificate for excellence in financial reporting by the Government Finance Officers Association of the United States and Canada.

Beer said earning that recognition for even one year is an accomplishment.

“I have clients come to me who say they want to apply for the certificate of achievement,” Beer said. “I tell most of them, ‘Are you kidding me?' ”