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Town audit: independent firm issues unmodified opinion, restatement for sick‑leave recognition
Summary
External auditors gave the Town of Spencer an unmodified (clean) opinion on the FY2025 financial statements and on major programs in the single audit; auditors recorded a $35,491 restatement to recognize a portion of sick-leave liabilities and reported no material weaknesses or significant deficiencies.
Nick Wicker of Strickland Hardie PLLC presented the town’s fiscal year 2025 audit and told the board the firm issued an unmodified opinion on the basic financial statements and on major federal and state programs subject to single-audit rules. The auditor explained the town adopted GASB Statement No. 101 for compensated absences and that the audit included a restatement of $35,491 to record the current portion of sick-leave liabilities that had not previously been recognized.
Wicker summarized key…
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