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South Burlington Council accepts FY24 audit showing $1.3 million surplus, clean opinion
Summary
City auditors RHR Smith presented the FY24 financial statements and single-audit results; the council accepted the audit, which reported a $1.3 million surplus, an unmodified (clean) opinion and no material weaknesses or single-audit findings.
South Burlington City Council voted Feb. 6, 2025, to accept the city’s audited financial statements for fiscal year 2024 after a presentation by auditors from RHR Smith & Company. Auditor John Boulay, the audit manager on the engagement, told the council the previously reported surplus "stayed at 1.3" (million) and the firm issued an unmodified — commonly called a clean — opinion.
Boulay summarized the audit’s key points: the general fund and capital funds were largely consistent with prior years, enterprise funds (recreation, water, water pollution control and stormwater) showed modest fund-balance increases, and the financial statement notes disclose a…
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