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Treasurer says fiscal 2025 audit won’t meet Oct. 31 deadline; town will request extension
Summary
Treasurer Frankencill told the Forest Heights City Council auditors have received most materials but cannot finalize the fiscal 2025 audit by the Oct. 31 deadline; the town will request a state extension and expects to complete the audit by the end of the calendar year. He clarified that a questionnaire from Mr. DeSalvo was an internal service and not part of the state package.
Treasurer Frankencill told the Forest Heights City Council that auditors have received roughly 90% of the materials for the fiscal 2025 audit but indicated they would not be able to finalize the audit by the Oct. 31 deadline.
"They reached out today and said they wouldn't be able to finalize it before the Oct. 31 deadline," Frankencill said. He told council members the town will send a letter to the state requesting an extension and expects the audit to be wrapped up by the end of the calendar year.
Council president Noble asked whether a questionnaire distributed previously by Mr. DeSalvo was part of the state's audit package. Frankencill said it was not: the questionnaire was an added service provided by Mr. DeSalvo for internal review and comment and is not submitted to the state as part of the official audit deliverables.
Frankencill characterized the Oct. 31 filing date as tight given fiscal-year timing but said many municipalities also file at that time. He reiterated the council would be informed when the audit is complete.
The treasurer also confirmed he will attend the council's Oct. 25 meeting, which council members had discussed earlier in the meeting.
