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Independent auditor reports no material misstatements in Kernersville’s FY2025 audit; fund balance dipped slightly
Summary
Thompson Price Scott and Adams presented the FY2025 audit to the Kernersville Board of Aldermen, reporting no uncorrected material misstatements or disagreements with management and noting a general fund balance of $24.7M and a slight decline in fund balance available as a percent of expenditures.
Hunter Wiseman of Thompson Price Scott and Adams presented the town’s fiscal year 2025 audit at the Jan. 28 meeting, telling aldermen the audit was completed in accordance with government auditing standards and the firm found no uncorrected material misstatements or disagreements with management.
Wiseman highlighted the adoption of GASB Statement 101 (affecting compensated absences…
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