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Denmark audit shows net position gain; board accepts audit overview and records wage adjustment from town meeting
Summary
Select Board reviewed a clean audit for fiscal year 2024–25 showing a $627,269 increase in net position, an unassigned fund balance of about $1.08M after uses, and auditor recommendations on transaction coding; board also signed wage increases approved at town meeting.
Town staff told the Select Board on June 16 that the FY 2024–25 audit returned a clean opinion and highlighted a net position increase of $627,269. Staff said revenues exceeded expenditures and that the unassigned fund balance stood at about $1.08 million after certain uses were applied.
The auditor recommended administrative improvements focused on transaction coding for donations and expense accounts; staff and the clerk said they will review general ledger coding before the end of the fiscal year. The board praised the office and asked staff to reach out to auditors for clarification on minor items if needed.
Separately, the board confirmed implementing the 3.5% wage increase that voters approved at the town meeting and discussed rolling a CEO duty stipend into the town manager's weekly pay for simplicity; staff will process the change and present the signed documentation.
Next steps: staff will review coding as recommended by auditors, circulate the signed audit to board members, and finalize payroll changes to reflect the approved wage increase and stipend handling.
