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Sanitary District No. 2 audit shows $2M net position increase; board accepts audit
Summary
The Sanitary District No. 2 board unanimously accepted the independent audit for the fiscal year ending June 30, 2025; auditors reported a $2 million increase in net position, asset increases tied to bond proceeds and no material weaknesses for the district.
The Sanitary District No. 2 board accepted the independent auditors’ report for the fiscal year ending June 30, 2025 during the district meeting that followed the council session on May 5. Andrew Roth, partner at The PUN Group, presented the financial statements and audit findings and said auditors issued an unmodified opinion.
Roth summarized that current assets increased by roughly $2.2 million to about $9.5 million and noncurrent capital assets rose about $12.2 million (to roughly $43.2 million), changes largely tied to capital projects and bond issuance. Liabilities increased to about $12.5 million; the net change in net position was an increase of approximately $2.0 million. Operating revenue increased to about $4.2 million while operating expenses rose by about $406,000.
Roth reported no material weaknesses or significant deficiencies specific to the sanitary district; he noted that findings discussed in the town’s audit letter reflected broader, town‑wide issues rather than problems isolated to the district. The board moved, seconded and unanimously accepted the auditor’s report.
