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Independent auditor gives town a clean opinion but flags lower reserves and water-fund loss
Summary
The town’s FY2025 audit received an unmodified (clean) opinion and a clean single-audit on federal and state grants, including FEMA expenditures; auditors reported the town’s available general-fund balance fell to about 20% (below the Local Government Commission 25% guideline) and the water fund showed a roughly $190,000 loss under operating measures tied to storm impacts and purchased water.
The Town of Black Mountain received an unmodified (clean) audit opinion for fiscal year ending June 30, 2025, and a clean single-audit on the town’s federal and state grant expenditures, the council heard April 13.
Travis Keever of Cool Killian CPAs (speaker 7) told the council the audit found no material weaknesses in internal control and no reportable noncompliance with laws and regulations affecting financial reporting. He said the auditors issued an unmodified opinion on the financial statements and an unmodified compliance…
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