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Finance director presents delayed FY24 comprehensive financial report; auditors cited for delay
Summary
Finance Director Glenn Smith presented the FY24 Annual Comprehensive Financial Report, saying the audit was delayed by the auditors and highlighting a $1.3M increase in unassigned fund balance, a $2.8M increase in long‑term debt to roughly $40M, and nine audit findings that included IT recommendations; the city engaged new auditors for 2025.
Glenn Smith, Laconia’s finance director, gave a concise overview of the city’s FY24 Annual Comprehensive Financial Report at the Dec. 8 council meeting. Smith said the audit was delivered late — in October — because the external auditor experienced staffing problems earlier in the year; the city has since moved to contract with CliftonLarsonAllen for future audits.
Key fiscal points Smith highlighted:
- Una…
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