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Berlin audit: FY25 receives clean opinion; fund balances up about $1.5M
Summary
TKS & Company reported a clean (unmodified) opinion on Berlin's FY25 financial statements, noting roughly $10.8 million in general fund revenues, $9.8 million in expenditures and an increase in fund balance of about $1.5 million; auditors flagged new accounting rules that raised accrued leave liabilities.
TKS & Company presented the Town of Berlin's fiscal year 2025 audit on Jan. 12, telling the Mayor and Council the firm issued a clean (unmodified) opinion on the town's financial statements and identified no material weaknesses in compliance testing of federal programs.
Audit partner Andrew Heen said the general fund recorded about $10.8 million in revenues and $9.8 million in expenditures for FY25, with net other financing sources of roughly $460,000 leading to an approximately $1.5 million increase in fund balance. Heen said the town's unrestricted portion of fund balance stood…
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