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Princeton Council Accepts Clean 2024 Audit; CFO to Share Report After Meeting
Summary
An independent auditor issued an unmodified opinion on Princeton's 2024 municipal financial statements; council accepted the audit and the finance director pledged to circulate the report to councilmembers the following day.
An independent auditor told the Princeton mayor and council on June 23 that municipal finances for 2024 received an unmodified opinion, and the council adopted a resolution accepting the audit and associated group affidavit.
Dave Gannon, presenting the audit for the municipality, said the firm had "issued an unmodified opinion," meaning the auditors took "no exception" to Princeton's accounting practices and found compliance with reporting requirements. Gannon reported the current fund balance at the end of 2024 was $25,300,000, an increase of roughly $3.3 million from the prior year, and noted total net debt at the end of 2024 was $205,000,000 and remained below statutory limits.
Councilmembers thanked the finance staff for their work; Councilmember Michelle Braga asked that the audit report be provided in the meeting packet for review, and the municipal chief financial officer said she would send the report to councilmembers first thing the next day. The council then approved resolution 25-214 accepting the audit by voice vote.
