Palatine Township officials said an audit for the previous fiscal year by accounting firm McClure Inserra and Co. determined both the township and road district were financially sound.
The assets of the township exceeded its liabilities by $8.8 million, according to the audit.
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Supervisor Sharon Langlotz-Johnson said the township has been conservative in its spending and that the board kept a campaign promise to further reduce budgets by 5 percent without affecting services. In May, the board approved reducing the road district budget by $237,000 and the township budget by $69,000, exceeding the 5 percent goal.