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Auditors report clean 2025 opinion; Mount Lebanon posts healthy reserves
Summary
Auditors told the Mount Lebanon Commission they issued an unmodified opinion on the town's 2025 financial statements, noting roughly $7.8 million in unassigned fund balance, improved tax revenue, and no audit adjustments or management-letter issues.
Mount Lebanon commissioners heard a presentation on the municipality's 2025 audit Thursday, when auditors from Marissell said they issued an unmodified (clean) opinion and found no audit adjustments or disagreements with management.
"We did issue an unmodified audit opinion," said Natalie Capone, principal with Marissell, explaining that the audit follows U.S. generally accepted auditing standards and relies on risk-based sampling. Capone said the audit produced no management recommendation letter, which would appear only if material weaknesses or significant deficiencies in internal control were identified.
The presentation highlighted key figures: an estimated $7.8 million in unassigned general-fund balance at year-end; a roughly $1.1 million increase in the general fund for 2025 largely driven by increased tax revenue and delayed capital spending; and unassigned fund balance equal to about 17.7 percent of total revenues. Auditors also noted approximately $18.3 million in other governmental-fund balance, about $15.8 million of which is restricted for capital projects.
On long-term obligations, auditors showed the municipality's bonds remain the largest component of long-term debt and said the town now reports a net pension asset for its police and firefighter plans in 2025, reflecting actuarially determined valuations and market value accounting in the financial statements.
"We had no difficulties in performing the audit," Capone said, adding that the audit team made no adjustments to the financial statements during the engagement and did not identify any consultations with other accountants that would alter the report.
Finance staff said the annual comprehensive financial report has been available on the town's website since early April, and auditors described upcoming financial-reporting changes to watch for in 2026 and 2027 footnote and disclosure pronouncements. Commissioners asked about areas of concern; auditors reiterated that, if any issues existed, they would appear in a separate management letter and none were needed this year.
The presentation concludes the audit review portion of the commission's discussion session; the annual report and audit documents remain available on the municipality's website for review.
