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Auditors report clean opinion for Southborough; warn on pensions and federal-grant uncertainty
Summary
Independent auditors gave the town a clean opinion for the fiscal year ended June 30, 2024, praised reserve growth and investment returns, and highlighted long-term pension and OPEB liabilities and uncertainty around federal grants.
Tony Roselli, managing partner of Roselli Clark & Associates, told the Town of Southborough Select Board on April 29 that his firm issued a clean audit opinion for the fiscal year ended June 30, 2024.
The audit “is a snapshot of June 30 of ’24,” Roselli said, and he emphasized that auditors follow generally accepted government auditing standards (the “yellow book”). He said the town received a clean opinion and that the finance team’s work made the audit straightforward: “Happy to report we didn't have any of that in Southborough. We've never had any of that.”
The audit showed Southborough’s reserve balances have generally risen since 2017, Roselli said, from roughly $3.5 million to about $6.5 million in…
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