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Auditors issue clean opinion; Freeport’s general fund posts healthy reserve but water/sewer shows operating loss
Summary
Brooks Watson & Company presented a clean (unmodified) audit opinion for FY ending 09/30/2025, noting a healthy general fund reserve (about $12.1M, ~65% of annual general fund expenditures) but an approximate $1.4M operating loss in the water and sewer fund and recommended rate adjustments going forward.
Auditors from Brooks Watson & Company presented the City of Freeport’s audited financial statements for the year ended Sept. 30, 2025, and issued an unmodified (clean) opinion.
Mike Brooks, the audit partner, highlighted the audit process and several financial figures: total maintenance and operations (M&O) property taxes were reported just under $3.4 million (a decrease of about $40,000), interest and sinking (I&S) property taxes totaled just…
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