Independent auditor gives Bourne an unmodified opinion; board approves year‑end transfers

The town’s independent auditor told the select board June 30 that the FY2025 financial statements received an unmodified (clean) opinion and that results of testing produced no single-audit compliance findings for the child-nutrition and special-education federal programs.

Zach Ventross of CliftonLarsonAllen presented the audit highlights, reporting a governmental net position of roughly $53.9 million, an unassigned general‑fund balance around $14.6 million and a general fund fund balance of about $25.6 million. He noted the town implemented two new GASB standards this year and identified three estimates with higher uncertainty (net OPEB liability, incurred-but-not-reported liability and landfill liability). On OPEB the auditor said the actuary calculated an OPEB liability of about $93 million and that the town has set aside roughly $12.6 million for those liabilities, leaving a net OPEB liability of approximately $80.3 million.

The board also approved year-end operating‑budget transfers to address deficits: finance staff described two transfers (snow & ice and fire overtime). The fire-overtime deficit was approximately $350,000; the finance committee recommended using $250,000 from reserves and drawing other savings/turnbacks to make the department whole. The board moved and approved the transfers and specific amounts presented, including a transfer for $143,527.74 cited in the materials.

Why it matters: An unmodified audit opinion is the strongest external assurance a municipal financial statement can receive and supports confidence in the town’s fiscal reporting. Year‑end transfers restore departmental budgets and keep operations functioning into the new fiscal year.

What’s next: Staff will post final FY2025 statements on the finance department website and implement approved transfers; the board noted management-letter comments and a repeat recommendation for DPW inventory tracking.