The Stafford Special Called Economic Development Corporation meeting on September 16, 2025, focused on the recent audit results and financial health of the organization. The meeting provided an overview of the audit process, highlighting the importance of staying updated with changing accounting standards and ensuring transparency for stakeholders.

During the meeting, the auditor reported that the fund balance is in good shape, with the budget remaining in the black and no findings from the audit. This positive outcome indicates effective financial management within the corporation. The auditor emphasized the significance of providing timely information to management to prepare for any upcoming changes in accounting regulations.

Board members raised questions regarding the audit opinions, with the auditor explaining the different types of opinions that can be issued. The highest rating, an unmodified opinion, was received, indicating that the financial statements are free from modifications. The auditor also discussed the risk-based approach to auditing, which focuses on assessing areas of higher risk, such as cash management, to ensure robust internal controls are in place.

The discussion underscored the importance of maintaining strong financial practices and the need for ongoing communication between the corporation and its financial institutions and grant agencies. The meeting concluded with a commitment to continue monitoring financial trends and ensuring compliance with evolving standards.