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Oakland audit returns clean opinion; auditors flag segregation-of-duties weakness
Summary
External auditors issued a clean opinion on the Town of Oakland’s fiscal 2023–24 financial statements but identified one significant deficiency: limited segregation of duties in the town’s small finance operation. Auditors found ARPA spending compliant and recommended additional oversight and staff support.
Auditors presented the Town of Oakland’s fiscal year ending Sept. 30, 2024, with an independent auditor’s report that delivered a clean opinion, meaning the financial statements were "fairly stated in all material respect," the audit partner said. The audit covered the town and reported no material weaknesses or instances of noncompliance, but it did identify one significant deficiency tied to segregation of duties in the town’s finance and customer-service functions.
Tiffany Mangold, the audit partner on the engagement, told the commission the town’s small finance team means "the town doesn't have the resources to properly segregate those duties among…
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