Auditors report unmodified opinion for CarlisleBorough; ARPA single-audit showed no findings

Auditors told council the borough's 2024 financial statements are materially correct and required no modifications.

Tina Kernow of Smith Valley Kearns presented the 2024 audit results and required communications. Kernow said the firm issued an unmodified opinion and reported no audit findings; she called the result the "best opinion you can receive." The auditors noted positive net changes in fund balances in 2024 and improvements across general and proprietary funds.

Kernow described required disclosures, management letters and forthcoming Governmental Accounting Standards Board (GASB) standard implementations that the borough will need to stage over coming years. She explained the audit opinion covers the financial statements, not a separate opinion on internal control or fraud investigations.

Kevin (Smith Valley Kearns) summarized graphs in the packet showing increases in cash and investments by fund, revenue changes (noting intergovernmental revenue variability driven by ARPA/state and transportation grants), and expense comparisons. He said the borough's pension plans (police and nonuniform) are slightly above fully funded at reporting and that the borough's debt is roughly 50% of its legal limit.

The auditors also reported a single audit of federal expenditures (total federal expenditures ~ $4.7 million). The auditors selected the Coronavirus State and Local Fiscal Recovery Funds (ARPA) as the major program for testing and reported no findings related to that program. Kernow and Kevin invited councilors to contact them or borough management with follow‑up questions; councilors had no questions at the time.