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Independent accountant reports no exceptions in Clarkston Townfinancial survey for year-ended June 30, 2025
Summary
An independent agreed-upon procedures report for Clarkston Town found no exceptions across tested areas including revenues, disbursements, bank reconciliations, meeting notice and minutes, budget compliance and fraud risk assessment; the engagement was not an audit and expressed no opinion.
An independent accountant's agreed-upon procedures report on Clarkston Town's financial survey and accounting records for the year ended June 30, 2025, found no exceptions in any of the procedures performed, the report dated Feb. 10, 2026, states.
The report, prepared by Matthew Regen, CPA, PC, and conducted under Utah Code 51-2a-201 and Government Auditing Standards, covers testing of the town's Financial Survey, comparisons of survey amounts to the general ledger, revenue and expense trend analyses, disbursement sampling (including related-party and card purchases), bank reconciliations, and review of meeting notices and minutes. "I noted no exceptions as a result of these procedures," the accountant wrote repeatedly where each procedure's result was summarized.
Why it matters: the procedures are intended to provide the Office of the Utah State Auditor and town officials with assurance about specific recordkeeping and compliance practices. The report, however, is an agreed-upon procedures engagement and "is not an examination or review" and does not express an opinion or conclusion on Clarkston Town's financial statements or compliance beyond the described tests.
Key findings listed in the report include: no exceptions when agreeing Financial Survey amounts to the general ledger; no exceptions in revenue and expenditure comparisons to prior periods where large changes were investigated; disbursements tested were consistent with the town's purpose, supported by receipts or invoices, authorized under policy, and classified in accordance with GAAP and applicable rules; credit/purchase card reconciliation practices met expectations; restricted-fund disbursements complied with restrictions; bank reconciliations traced to bank statements and the general ledger and were clerically accurate; minutes and meeting notices met Open and Public Meetings Act posting and specificity requirements; required budget notices and adopted appropriations were in place; required trainings and GRAMA practices were documented; the town's Fraud Risk Assessment was signed and discussed by the governing body; PII practices, conflict-of-interest disclosures, and officer role separations met requirements; the treasurer was bonded in accordance with applicable rules; and government fees were approved, tracked, and reasonable.
The report documents that the accountant selected samples (for example, the lesser of 25 disbursements or 10% for disbursement testing and the lesser of 10% or five reconciling items for bank reconciliations) and inquired of those charged with governance, the chief administrative officer and the chief financial officer, when appropriate. Where the report references statutory or procedural mandates it cites Utah Code provisions (for example, UCA 11-50-202; UCA 52-4-205; UCA 63D-2-103) and Money Management Council Rule R628-4-4.
The report closes by restating its limited purpose: it was not engaged to provide an opinion and is intended solely for the information and use of the Office of the Utah State Auditor, the town's governing body, and management. The document is signed by Matthew Regen, CPA, PC, and dated Feb. 10, 2026, Logan, Utah.
