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Middletown IDA accepts clean 2025 audit, approves annual (PARIS) report and authorizes state submission
Summary
The Middletown Industrial Development Agency approved a clean 2025 audit, accepted its annual (PARIS) report and authorized submission to New York State; the board also approved routine financial and investment reports and payments at its March 17, 2026 meeting.
The Middletown Industrial Development Agency on March 17 approved a clean, unmodified audit opinion for the year ending Dec. 31, 2025, accepted its annual (PARIS) report and authorized submitting the documents to New York State.
Shannon of audit firm RBT told the audit committee the IDA received a clean, unmodified opinion and reported that cash increased about $118,000 while liabilities rose roughly $107,000 after a late payment from the Danza Group; net position increased by about $11,000 and expenses were up approximately $240 for the year. "We did receive a clean, unmodified opinion," Shannon said.
The audit committee moved to recommend acceptance of the audit, the annual (PARIS) report and the procurement report for the year ending Dec. 31, 2025; the full board carried Resolution 2026-7 to accept those documents and authorize their submission to…
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