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Town auditor: Georgetown's FY2025 financial statements receive clean opinion; assets and liabilities rose after debt issuance
Summary
Auditor Chris Leeman told the council the town's April 30, 2025 financial statements received a clean opinion, no fraud was found, and total assets rose from about $19.6 million to $32.2 million largely because of recently issued debt proceeds; long-term liabilities increased in parallel.
Chris Leeman, engagement partner for the audit firm, presented a high-level summary of the town's April 30, 2025 financial statement audit and told the council the auditors issued the best available professional opinion on the statements.
Leeman said the work found no instances of fraud and no material weaknesses in internal controls for the period under audit. He described the firm's risk-based approach and…
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