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Auditor issues clean opinion; commission net position rises to $3.5 million
Summary
The independent audit for the City of Litchfield Tourism Commission returned an unmodified opinion. Auditor review showed FY revenue of $1.62 million, net position of $3.5 million (up $402,000), and long-term liabilities of about $2.866 million, including $2.5 million in aquatic-center bonds.
The commission received the independent auditor's report and a bound copy of the financial statements. The auditor reported an unmodified (clean) opinion, saying the audited financial statements "present fairly in all material respects the respective financial position" of the City of Litchfield Tourism Convention Commission as of June 30, 2025.
Key fiscal highlights cited in the discussion and analysis included: total revenue of $1.62 million for the fiscal year (including approximately $1.2 million from restaurant taxes, $10,000 from hotel taxes, and $320,000 in aquatic-center revenues); total expenses about $1.25 million; net position increased by $402,000 to $3.5 million; and total long-term liabilities roughly $2.866 million, primarily the $2.5 million bond for the aquatic center. The auditor said there were no internal-control or compliance issues to report.
Commissioners moved to accept the audit. Kelly made the motion to approve the report and Lindell seconded; the commission approved the audit by voice vote. Commissioners thanked staff and auditors for producing a clean report.
