Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Independent auditor flags material weakness in Harrisville's FY2025 financials
Summary
Independent auditor Rob Witt presented the FY2025 audit, noting increased revenues and restricted bond proceeds for capital projects but reporting a material weakness in internal controls related to preparation of financial statements and numerous journal‑entry adjustments.
HARRISVILLE — The council heard the city’s FY2025 audited financial statements on Monday from independent auditor Rob Witt, who described overall increases in revenues but also warned of internal control gaps that produced numerous adjusting journal entries.
Witt told the council the statements presented “are in accordance with generally accepted accounting principles” after management agreed to the auditor’s recommended adjustments, but he also characterized deficiencies in controls over the preparation of…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
