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Auditors give Saco a clean opinion, flag federal vendor documentation and school payroll recordkeeping
Summary
External auditors rendered an unmodified (clean) opinion on Saco's fiscal year 2024 financial statements but issued non‑material recommendations: document federal vendor debarment checks and complete payroll wage‑rate approval forms in the school payroll files.
RKO, the external auditor, presented the city and school district's fiscal year 2024 audit to the Saco City Council on Oct. 20 and said its independent opinion on the financial statements was unmodified, meaning the statements are "fairly stated in all material respects." (RKO).
The audit found no material weaknesses or significant deficiencies in internal control but included two "other comments" the auditors recommended the city address: documenting checks for suspended or debarred vendors on federally funded contracts, and completing payroll wage‑rate approval forms for school employees. (RKO)
Why it matters: an unmodified opinion signals the auditors found the city's and school district's year‑end financial statements reliable for fiscal decision‑making. The non‑material comments relate to compliance and documentation that, if addressed, reduce administrative risk and improve federal grant oversight.
RKO sai…
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