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Auditors give Snowflake a clean FY2022 opinion; council hears pension question
Summary
Independent auditors told the Snowflake Town Council that the town’s FY2022 financial statements received an unmodified ("clean") opinion, with no reportable findings; auditors highlighted stronger net position and reduced long-term liabilities, and council discussed pension liability.
Jennifer Frank, an auditor with Hinton Burdick, told the Snowflake Town Council on Jan. 10 that the town’s FY2022 financial statements received an unmodified, or "clean," opinion and showed no reportable findings for any category.
Frank said the town's total net position was just under $25 million, capital assets rose by just over $5 million, and long-term liabilities decreased by just over $2 million. "There was an unmodified or 'clean opinion' and no reportable findings for FY 2022 for all categories," Frank said.
Councilmember Byron Lewis asked about the town’s pension liability. Brian Richards responded that the liability "fluctuates yearly depending on the actuary; every pay period we pay more and more to the liability," indicating the town is increasing contributions to address the obligation. No formal action was taken on the audit presentation.
Why it matters: A clean audit reduces near-term compliance risk and signals that financial statements fairly present the town’s fiscal position, but questions about long-term pension obligations underscore future budget pressures. The council did not vote on measures tied to the audit during the meeting.
Next steps: The auditor's presentation concluded with no required findings; council members may pursue follow-up questions about actuarial assumptions and pension funding at a later meeting.
