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Auditor gives Thompson's Station a clean opinion, flags clerical internal‑control corrections
Summary
Culver Accounting reported a clean, unmodified financial‑statement opinion and a clean compliance opinion for EPA State Revolving Loan Fund testing; auditors noted clerical internal‑control findings that have been corrected and recommended greater segregation of duties as staff is added.
The town’s auditors, Culver Accounting, told Thompson's Station’s board on Jan. 13 that the 2025 audit returned a clean, unmodified opinion on the financial statements and a clean compliance opinion for EPA State Revolving Loan Fund testing.
Matt of Culver Accounting said the team completed the audit before the state’s Dec. 31 deadline and that the compliance testing related to the federal loan fund produced a separate, also‑clean opinion. He and staff acknowledged several clerical findings that the auditors described as timing and recording errors rather than indicators of fraud; the auditors said those findings have been corrected.
The auditors recommended stronger internal controls, including more segregation of duties and additional review of reconciliations, which the audit team and staff said will be helped by planned hires. Council members discussed a separate upcoming accounting task: a potential 2026 review of wastewater assets that could require write‑downs and would involve both engineers and accountants.
The board received the audit and had no objection to the auditors’ characterization that the findings were clerical in nature and that management’s corrective actions were satisfactory.
