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CCRPC accepts FY2025 audit after auditors issue clean opinion; staff warned about indirect rate over‑reimbursement
Summary
The Chittenden County Regional Planning Commission accepted its FY2025 audit after CBiz issued an unmodified opinion. Auditors reported no material misstatements or federal non‑compliance; staff noted an indirect‑rate over‑reimbursement of about $67,000 that may affect FY27 adjustments.
The Chittenden County Regional Planning Commission unanimously accepted its fiscal year 2025 audit on March 18 after a presentation by lead auditor Kyle Connors of CBiz.
Connors told the board the firm will issue an unmodified (clean) opinion on the commission’s June 30, 2025 financial statements, saying the source information produced "minimal journal entries" and that the statements were “free of material misstatements.” He said operating revenue exceeded operating expenses by about $115,000 but that cash declined roughly $176,000 because of the timing of receivables and payables.
The auditor also reviewed the single‑audit work on federal grants. He said CBiz tested the highway planning and construction program and the National Infrastructure Investment (RAISE) program and found no reportable non‑compliance.
Board members asked about accounting standards and rates. Connors said GASB Statement 101 (compensated absences) had been considered and did not materially affect the commission’s statements. Commission staff explained that the negotiated FY25 indirect rate exceeded actual experience, producing an over‑reimbursement of approximately $67,000; staff warned that could create a small negative adjustment in FY27.
Chair and staff moved to accept the draft audit, authorizing the executive committee to approve technical edits before final sign‑off and to return any significant changes to the full board. The motion passed by voice vote.
Next steps: staff will incorporate agreed clarifying edits (including a correction on a page referencing FY23 for the FY25 negotiated indirect rate) before finalizing the audit report.
