Town audit firm gives FY2025 financial statements a clean opinion; pension fully funded

The town’s Audit Committee heard on March 24 that independent auditor CBIZ CPAs P.C. issued an unmodified opinion on the Fiscal Year 2025 financial statements and found no material weaknesses or significant deficiencies.

Jessica Greene, director/shareholder at CBIZ CPAs P.C., and Michael Pelleriti, a supervisor at CBIZ, presented the firm’s required communications and responsibilities as the town’s independent auditors. Greene reported there were no significant accounting changes, no disagreements with management and no unusual transactions during the audit.

CBIZ also noted the town adopted GASB 101: Compensated Absences (which replaces GASB 16) during FY2025 as an accounting standards change reviewed with the committee. Committee members confirmed that the town’s general fund operating results were within Massachusetts guidelines and met bond‑rating requirements.

Committee discussion included the status of the town’s pension plan; the meeting record states the pension plan is fully funded. The Audit Committee will present an update on compliance with prior internal-control recommendations at the May Annual Town Meeting; the chair will coordinate that presentation with management and reported there are no items to bring to the town meeting.

The meeting was called to order at 8:00 AM and adjourned at 9:07 AM after a unanimous roll-call vote on a motion to adjourn.