Town and Country posts 10th straight clean audit; general fund remains strong

Darren Mann, the city’s finance director, told the Board of Aldermen on July 13 that the 2025 financial statement audit received a clean, unmodified opinion and that the city’s financial position is strong.

Mann said the audit shows a government-wide net position of $61,300,000 and $14,000,000 in unrestricted funds; governmental fund balances total $23,100,000. He noted the general fund balance is $14,200,000—about 127% of general fund expenditures—figures he said position the city for a planned capital project push. “Again, clean, unmodified opinion,” Mann said, and added that the certificate of achievement from the GFOA is expected to continue the city’s streak.

Why it matters: a clean audit with large unrestricted and general fund balances gives the city flexibility to pay for capital work and helps preserve bond and grant eligibility. Mann cautioned that fiscal-year charts show an FY26 decrease driven largely by planned transfers to capital funds.

Mayor (unnamed) praised Mann and the finance staff for consecutive successful audits, saying the 10th straight high-quality audit “shows that the city is in sound shape financially.” Board members noted that some planned transfers and capital spending will reduce balances temporarily, but staff said those moves are budgeted and many projects are grant-supported.

Details and context: Mann walked the board through trend charts for revenues, transfers and expenditures, explaining that a large transfer in FY26 will reduce the visible fund balance in operating charts even though the transfers are for programmed capital purchases. He also described the additional reporting required for the GFOA certificate (a 10-year trend analysis and supplemental information).

What’s next: staff said monthly financial reports will continue and that finance and department leaders will monitor fund balances as capital projects proceed.