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Harrisburg releases FY2025 audit showing $9 million saved for capital, clean opinion from auditors
Summary
Town finance staff and external auditors presented the fiscal year 2025 audit, reporting increased property-tax revenue, developer infrastructure contributions and about $9 million moved to savings for planned capital projects; auditors issued an unmodified (clean) opinion and noted the town’s available fund balance is above minimum thresholds.
The Town of Harrisburg presented its fiscal year 2025 financial audit at the council’s January meeting, with Finance presenter Brian Lee summarizing key results and outside auditors issuing a clean opinion.
Brian Lee said the town moved about $9 million into savings across the general, water/sewer and stormwater funds to fund approved and planned capital projects. Property-tax revenue rose, he said, in part because of revaluation activity, and the town recognized roughly $400,000 in developer infrastructure contributions this year for the Addison Park neighborhood. Lee said the government-wide net investment in capital assets rose to about $86.3 million at year‑end.
Lead auditor Kang Mowao of Martin Starnes and Associates explained the auditors’ process and told the council the firm issued an unmodified opinion on the town’s financial statements. Kang said the town’s available fund balance was 26% — above the state minimum threshold — and that the Local Government Commission (LGC) had accepted the audit filing.
Council members asked for additional breakdowns of revenues tied to businesses and about the state’s new KPI reporting requirements. Lee and Kang said the LGC extracts KPIs from the audited workbook and that the town submits a detailed workbook with the audit; Kang added that the town’s metrics compared favorably to peer municipalities. "There were no red flags," Kang said of the audit filing.
Lee also reviewed enterprise fund performance, noting combined water, sewer and stormwater revenue increases of about $600,000 after a 5% rate change. He highlighted one-time system development fees in 2024 that had skewed prior-year comparisons and said the town’s operating margins remain within peer ranges.
The presentation concluded with staff noting the town has submitted an Annual Comprehensive Financial Report for consideration in the Government Finance Officers Association’s Certificate of Excellence program, a recognition Lee said Harrisburg hopes to earn on its first try.
Next steps: the audit will remain on the council’s record, staff will provide requested breakdowns of business-related revenue on the town website, and the LGC will continue KPI oversight as part of the standard annual review process.
