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Wellington treasurer: 2024 audit not filed; midyear finances positive though development fees lag
Summary
Finance director Nick Redavid told the Wellington Board of Trustees the town's 2024 audit has not been submitted and an extension was not granted. Midyear results show a positive net position but declines in building-related fees and several large, scheduled payments remain.
Nick Redavid, finance director and town treasurer, told the Wellington Board of Trustees on Sept. 9 that "the town has been notified by the state auditor that the 2024 audit has not been submitted and that an extension has not been granted." He said bringing the town into compliance and completing the 2024 audit is the finance department's top priority.
The treasurer presented the town's second-quarter fiscal-year 2025 report, saying overall budget performance is positive through June 30. "Net revenue over expenditures in total exceeds 1,500,000.0," Redavid said, while cautioning that several large expenses remain later in the year.
The report outlined drivers behind the midyear results. Property tax cash receipts were higher than expected because…
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