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City auditors issue highest opinion but flag one large accrual adjustment and control weakness
Summary
Auditors told the Gardner City Council they issued an unmodified opinion on the city's 2024 financial statements but identified a $750,000 accrual adjustment and an internal-control finding tied to wastewater accounting; staff reported corrective steps already in place.
The city's independent auditors presented the 2024 annual comprehensive financial report to the Gardner City Council and said they issued an unmodified opinion on the city's basic financial statements, the highest level of assurance an auditor can give. Bridal Holst, vice president in assurance at auditing firm Allen Gibson Hulick, told the council the firm also required the city to implement Governmental Accounting Standards Board guidance on compensated absences, which increased reported liabilities by about $300,000.
Why it matters: an unmodified opinion means the auditors found the financial statements to be free of material misstatement, preserving the city's fiscal…
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