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Auditors give city a clean opinion, note $72,000 GASB 101 adjustment and ARPA review delay
Summary
External auditors presented the city's fiscal year 2025 financial audit, issuing an unmodified (clean) opinion, reporting a $72,000 accounting adjustment under GASB 101 for accrued leave, and saying an ARPA compliance examination will be issued once the 2025 federal compliance supplement is finalized.
The city's independent auditors told the Taneytown City Council on Oct. 8 that the draft fiscal 2025 financial statements received an unmodified opinion and required no audit adjustments.
Auditors Michelle Mills, audit principal at Veil Leon & Stang, and Addie Blickenstaff, audit manager with DNS, told the council the statements were "fairly stated" and that their work found no material weaknesses in internal controls. "The draft has been prepared with an unmodified opinion on the financial statements," Mills said.
The auditors summarized several figures: government-wide assets of about $52.2 million, liabilities near $12.3 million and a net position of about $40.3 million; capital assets…
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