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Auditors give Louisburg a clean FY2023 opinion but flag multiple control weaknesses; council approves PB Meyers contract
Summary
PB Meyers presented a clean (unmodified) opinion on Louisburg's FY2023 financial statements but reported restatements, two instances of noncompliance, nine material weaknesses and one single-audit material weakness tied to ARPA reporting; the council approved a PB Meyers contract for the FY2023'24 audit by voice vote.
Robbie Bittner, a partner with audit firm PB Meyers, told the Louisburg Town Council that the firm issued an unmodified (clean) opinion for the town's fiscal year 2023 financial statements, while adding an "emphasis of matter" noting restated beginning balances as of June 30, 2022.
Bittner said auditors identified two instances of noncompliance that were also associated with material weaknesses and nine material weaknesses in internal control related to preparation of the financial statements. He said the town expended more than $750,000 in…
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