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Council accepts FY24 financial audit; auditors flag prior-period restatements and capital-asset concerns
Summary
The council accepted the Town of Nashville's fiscal year 2024 financial audit. Auditors reported no significant disagreements with management but noted prior‑period restatements, budget violations in some funds, and a water and sewer capital‑asset condition ratio below target.
The Town of Nashville town council on April 1 accepted the fiscal year 2024 financial audit presented by Thompson, Price, Scott Adams & Company, P.A., the town’s external auditors.
Auditor presentation and findings: the auditor (presentation summary) said the audit covered governmental and business‑type activities as of June 30, 2024. The report noted Nashville adopted GASB accounting changes for the year and that auditors encountered "no significant difficulties" in completing the audit. The firm said it found no uncorrected misstatements material to the financial statements and no disagreements with management. "We are not aware of any uncorrected misstatements that would be material to the financial…
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