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Bloodsboro council accepts unmodified audit opinion; finance presentation shows healthy fund balances
Summary
Brown Plus presented the 2025 audit and issued an unmodified opinion; council accepted the audit and staff noted net position, fund balance strength, and routine capital and pension items in the report.
Brown Plus presented a high‑level review of the borough’s 2025 financial statements and issued an unmodified (clean) audit opinion, which borough council accepted on May 26.
Scott Henry, presenting remotely for Brown Plus, told council the audit is test‑based and focuses on higher‑risk areas; he said auditors "were able to issue an unmodified opinion on your financial statements," indicating the statements are materially correct under generally accepted accounting principles. Henry highlighted a governmental net position of approximately $39.4 million and business‑type activities net position near $29.2 million at year‑end, and he reviewed a $9.9 million combined governmental fund balance broken down by non‑spendable, restricted, assigned and unassigned portions. He also explained that business‑type activities recorded a loss largely reflecting an ARPA grant reclassification to the sewer fund and noted roughly $1.6 million of capital purchases offset by about $2.4 million of depreciation.
Council had no substantive questions after the presentation and subsequently moved to accept the 2025 audit. Rob provided the treasurer’s report, saying revenues outgained expenses across combined funds and that most fund metrics were within expectations; council approved the May DMA MS4 invoice and accepted the audit.
Next steps: staff will circulate the final audit document and maintain capital asset schedules and pension notes in the finance files for future reference.
