Burrillville accepts audited FY2025 financial statements, finance team praised

Kyle Connors, managing director at CBIZ, presented the Town of Burrillville—s audited financial statements for fiscal year 2025 and recommended the council accept them. "The town had an unassigned fund balance at year end of $9,300,000," Connors said, and noted the town collected 99.6% of current-year taxes in FY25. He also reported the town had $1.2 million in unspent ARPA funds committed to projects that must be spent by Dec. 31, 2026.

The presentation emphasized revenue and expenditure variances: general-fund revenue exceeded budget by $755,000 while general-fund expenditures were about $2.3 million below appropriations, primarily because some capital outlays did not occur as budgeted. Connors said the teacher retirement plan remains an outlier at roughly 67.7% funded compared with most other plans near 100%.

Councilors praised the finance staff and the clarity of the audit. One councilor offered a brief "cliff notes" summary: "We are living within our means," the councilor said, noting four takeaways on fiscal health, pension liabilities, debt levels and fund-balance adequacy. After questions from council members, the body voted to accept the audited financial statements.

The vote to accept the audit was procedural; councilors did not direct further action beyond continuing routine oversight and monitoring of long-term liabilities such as the teacher retirement funding level and the town—s OPEB exposure. The council agreed staff and auditors will continue to monitor internal controls and single-audit requirements for federally funded programs.

The council—s acceptance of the audit concludes formal review of the FY2025 statements and places the town in position to proceed with budget planning and any forthcoming bond or financing activity that relies on the audited results.