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Barre receives unqualified FY24 audit; auditor flags sewer fund capital timing and operating pressures
Summary
The city’s independent auditor issued an unqualified opinion for fiscal 2024 and reported no material weaknesses; he noted sewer and water funds show capital-heavy balances and rising operating expenses tied to an aging system and repairs.
Barre’s independent auditor presented the fiscal 2024 audit to the City Council on Tuesday and issued an unqualified opinion, reporting no significant deficiencies or material weaknesses.
Rick Berman, the auditor, told the council, “Once again, the city has, achieved an unqualified, audit report, for the 2024 year.” He said management and staff compiled the statements and the audit team posted proposed entries the city accepted.
Berman highlighted fund balance and capital-asset issues in enterprise funds. He noted the sewer fund carries large capital assets and “an unrestricted deficit” on the fund statement driven by prior fixed-asset investment and timing of reimbursements. He also pointed to rising operating expenses: the management discussion and analysis referenced operating expenses increasing and more frequent repairs to the wastewater treatment plant.
Councilors asked whether ongoing repairs and a planned headworks bond and other capital work would worsen fiscal metrics in the short term; staff said savings from efficiency measures and operational changes could offset some debt service, and that final rate-setting in August will clarify impacts. Berman commended staff for cooperation during the audit process and said there were no disagreements with management.
The council received the audit report; no formal vote was required at the meeting.
