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Arlington audit returns clean opinion; federal grants and fund balances highlighted
Summary
Auditor Matt Wood told the board the town received an unmodified (clean) audit opinion, reported $1.41 million in federal awards (including $772,000 in ARPA), a general‑fund balance of about $22.43 million and $7.7 million in long‑term debt with $984,000 paid this year.
The town of Arlington received an unmodified (clean) audit opinion for the year, partner Matt Wood of Alexander Thompson Arnold told the board on March 3.
Wood said the audit found no internal control issues and no evidence of material misstatement or fraud. The firm performed a single audit because the town reported $1,410,000 in federal awards for the year; Wood said $772,000 of that total was ARPA funding and those federal expenditures tested clean.
Key financial highlights Wood cited included $7.7 million in long‑term debt with $984,000 in principal payments during the year, a general‑fund balance of $22,430,000 and sewer‑fund net income of $2,410,000 (positive cash flow of $2,180,000). He also described pension plan balances (approximately $792,000 and $760,000 for two plans) and noted the general fund was roughly $294,000 under budget in expenditures.
Wood summarized that the town’s financial position and budgeting practices were in good order compared with many municipalities and invited questions from board members.
