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Town auditors report 'clean' 2025 opinion; general fund and pensions remain strong
Summary
Independent auditors CliftonLarsonAllen told the Simsbury Board of Finance on Feb. 17 that the town received an unmodified (clean) opinion on its 2025 financial statements and single audits, with no findings on major federal or state programs. The report highlighted $194.5M in capital assets, a $164.3M net position and a general fund unassigned balance of about $20.6M (~16% of the 2026 budget).
Independent auditors CliftonLarsonAllen presented the town’s 2025 audit to the Simsbury Board of Finance on Feb. 17 and reported an unmodified opinion on the basic financial statements and on major federal and state programs.
"Unmodified opinion of course is the best opinion that can be given," auditor David Flint told the board, adding that the town also had a clean federal single audit with no compliance findings on major programs.
Flint highlighted several financial metrics: capital assets net of accumulated depreciation of approximately $194.5 million; noncurrent liabilities near $79.3 million; a total net position of roughly $164.3 million; about $6.7 million in restricted net position and $19.4 million in unrestricted net position. He also said the general fund’s unassigned balance stood at about $20.6 million, roughly 16% of the 2026 budget.
The auditors reported that total federal grant expenditures were $2.6 million in 2025, down from $6.4 million in 2024 as many ARPA expenditures were recorded earlier. The special education cluster (IDEA) was audited as a major program and produced no findings.
Flint told the board that the firm had no disagreements with management, no independence issues and no significant deficiencies in internal control related to the matters audited. He referenced recent accounting‑standards adoptions that had limited impact on Simsbury and noted several significant estimates used in financial statements — notably net pension and OPEB liabilities and certain fair‑value investments.
Board members used the presentation to ask for more visible budget‑to‑actual schedules in the public packet and to discuss the town’s fixed‑asset tracking; the auditor recommended adopting the Munis fixed‑asset module to reduce manual Excel tracking and reporting risks.
The audit presentation closed with the auditors encouraging continued communication with the board throughout the year; town staff and board members praised the clean results.
The board received the audit presentation and moved on to other agenda items, including pension and budget discussions.
