Bristol City Council accepts audit highlighting $84 million landfill-closure estimate and high long-term debt

The Bristol City Council on Dec. 9 accepted the City’s Annual Comprehensive Financial Report for the year ending June 30, 2025, after a presentation by auditors from Robinson Farmer Cox Associates.

Auditor Corbin Stone told the council the audit provided a clean opinion and highlighted an estimated $84 million liability for landfill closure and long-term obligations totaling about $262 million. Net position improved from a negative $102 million in 2024 to a negative $83 million in 2025, Stone said, while the city’s ending fund balance stood at $71 million — about 63% of operating expenditures.

Assistant City Manager and CFO Tamrya Spradlin said short-term assets rose to $71 million largely because of a recent state fund infusion, and noted that while general fund revenues grew, local tax growth was stagnant. Stone and Spradlin also reported total operating expenses of roughly $66 million and annual debt service near $11.5 million.

The audit flagged the increase in long-term liabilities, attributing much of the rise to the landfill-closure estimate; Stone noted a resulting per-capita debt of about $18,000, compared with a cited state average of $8,000. The auditors recommended improved tracking of state highway maintenance funding and more complete and timely financial disclosures by city officials.

Councilmember Anthony Farnum moved to accept the audit report; Neal Osborne seconded the motion. The council voted 5-0 to accept the report and thanked staff for the work.

The audit process experienced a minor delay related to federal compliance requirements but met required deadlines, the staff report said. Council did not take additional action at the meeting beyond accepting the audit.