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Audit finds adequate controls; single-audit triggered by $750,000 in federal spending
Summary
Jones Simkins presented the Town of Afton fiscal year 2025 audit; auditors found proper segregation of duties and no control weaknesses and noted a federal single-audit was required because the town had $750,000 in federal spending related to the sewer lagoon project.
Jason Sleight, CPA of Jones Simkins, presented the town’s fiscal year 2025 audit at the Dec. 9 meeting, reporting that the audit followed Generally Accepted Auditing Standards and that the town’s internal controls demonstrate adequate segregation of duties.
Sleight said the firm initiated a federal single audit because the town recorded $750,000 in federal spending related to the sewer lagoon project funded through COVID-related state grants, and that issuance was delayed by a late federal compliance supplement released at the end of November. Draft financial statements were described as longer than usual, with final issuance expected later in the week.
The auditors reported no deficiencies or weaknesses in controls, and they thanked town employees for cooperation. Council members thanked the auditors for their work. The record does not show additional follow-up items beyond finalizing the draft statements and completing the single-audit requirements.
Residents or interested parties seeking the final audited financial statements or single-audit report should contact the town finance office or the auditor’s firm when documents are released.
