Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Auditor: Norwood closes FY2025 with clean opinion, strong reserve position
Summary
Roselli Clark & Associates presented Norwood’s FY2025 financial-statement audit and issued an unmodified opinion, citing strong reserve ratios, an AA+ S&P debt rating and manageable pension/OPEB obligations; auditors flagged network-security and school-lunch balance items for ongoing follow-up.
Terenzio Bopicelli of Roselli Clark & Associates told the Town of Norwood Board of Selectmen on Jan. 27 that the firm issued an unmodified (clean) opinion on the town’s financial statements for the year ended June 30, 2025.
Bopicelli said the audit identified no internal-control deficiencies that would require formal communications to the board and described the financial statements’ major components, including government-wide statements, fund financial statements and required supplementary information.
“This was a financial statement audit,” Bopicelli said, distinguishing it from a forensic review, and noted that management is responsible for accounting policies and…
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
