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Select Board accepts FY24 audit; unassigned fund balance up about $900,000
Summary
Auditor Scott McIntyre told the board the FY24 financial statements received an unmodified opinion; the town’s unassigned fund balance is about $6.6 million (roughly 15% of expenditures), up roughly $900,000 from the prior year. The board voted to accept the audit.
Scott McIntyre of CBIZ presented the FY24 audit overview and governance letter, reporting an unmodified (clean) opinion, no proposed significant audit entries, and required disclosures related to significant accounting estimates (net pension and OPEB liabilities). He highlighted an unassigned fund balance of approximately $6.6 million — about 15% of general fund expenditures — an increase of roughly $900,000 from the prior year, comprised of approximately $4.1 million in general fund free cash and $2.5 million in stabilization.
McIntyre said the firm assists in preparing financial statements (a non‑audit service that must be disclosed) and summarized the cash flow health of enterprise funds. Board members asked clarifying questions about the audit’s purpose and timing; staff and board members praised the clarity of the report. A motion to accept the FY24 audit passed unanimously.
