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Independent auditor issues clean opinion; council and public press for clearer financial reporting
Summary
Mays & Associates reported an unmodified audit opinion for FY2025 and highlighted a large net‑position increase driven by capital additions and actuarial changes. That clean opinion did not quiet public concerns: several residents asked for clearer detail on legal costs, credit‑card journal entries and other line items. The auditor said no forensic audit was indicated.
An external audit partner reported a clean (unmodified) opinion on the town’s FY2025 financial statements at the March 4 council meeting — the highest level of assurance an auditor can provide — but the presentation sparked detailed questions about the management discussion and where certain costs are recorded.
Audit findings and key numbers: Whitney Crockett of Mays & Associates told the council the basic financial statements for the fiscal year ending June 30, 2025, received an unmodified audit opinion. She summarized headline figures cited in the auditor slides: total assets rose from about $18.4M to $20.6M (an increase of roughly $2.2M, largely capital additions); net position increased by about $3.4M (a 258.1% change year over year), driven in part by changes in pension and OPEB…
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