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Glens Falls civic boards accept clean audits, approve annual reports and officer slates
Summary
At joint annual meetings March 19, Glens Falls civic agencies accepted independent auditor reports that issued clean opinions, approved annual governance items and elected officers. Auditors reported no internal-control deficiencies; PARIS filings and routine administrative updates will be posted to state and local sites.
The Glens Falls Civic Development Corporation, Industrial Development Agency, Local Development Corporation and Urban Renewal Agency accepted independent auditor reports and approved their annual meeting items at joint meetings on March 19.
Jean Rafter, the independent auditor for several of the agencies, told the boards that the 2025 financial statements "present fairly in all material respects" and that the auditors found no reportable deficiencies in internal controls for the agencies she reviewed. Similar statements were made by other auditors who spoke during the separate agency sessions.
The approvals included election of officers and committee appointments, acceptance of the auditors' reports, confirmation of internal controls and policies, and the agencies' PARIS (Public Authority Accountability Act) submissions summarizing operations, financial highlights and compensation schedules. For the Civic Development Corporation the auditor noted minimal activity in 2025 and a net position reported in the draft at about $28, reflecting the CDC's limited role of holding a library bond.
Board chairs moved the group approvals by voice vote; no nays or formal tallies were reported in the minutes. The agencies will finalize and file the signed audit reports and post required documents on their websites and the state's portals.
The auditors flagged routine disclosure items in a few cases (for example, cash collateral versus FDIC insurance levels) that staff said they will correct before final filing. The boards also directed staff to circulate the final management representation letters and to complete any remaining presentation adjustments before publication.
The meetings closed the annual agenda items and moved the agencies to monthly-business sessions where routine administrative matters and project updates were addressed.
