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Independent auditor issues clean opinion on Leonardtown's 2025 financial statements
Summary
An independent auditor told the Leonardtown Town Council Jan. 12 that the firm issued a clean (unmodified) opinion on the town's fiscal-year 2025 financial statements, found no fraud or material weaknesses, and noted the town remains in a healthy reserve position despite a paper loss driven by depreciation.
The Leonardtown Town Council heard a brief audit presentation Jan. 12 from the town's independent auditor, who said the firm issued a clean (unmodified) opinion on the fiscal-year 2025 financial statements and identified no fraud or material internal-control weaknesses.
"We did not discover any fraud during our audit," said Chris Lee, engagement partner for SVM company, who presented the results and described the audit's scope and procedures. He told the council the audit…
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