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Auditor: McIntosh holds three years of reserves; recommends two months as prudent minimum
Summary
An outside auditor reported the town has three years of reserves, exceeds typical recommendations, and found no instances of non-compliance. Council thanked the auditor at the July 15 meeting.
Caleb Perla, audit partner with Powell and Jones, presented the town's annual audit and told the council "The town now has 3 years of reserves; the recommendation is 2 months; no instances of non-compliance."
Perla provided a breakdown of assets, liabilities and fund balance and emphasized that the town's reserves materially exceed the firm's recommended minimum. Mayor Scott and council members thanked staff for the audit and its presentation.
The audit report gives council a financial baseline for upcoming budget and project discussions. Council discussion did not include votes or policy changes tied to the audit during the meeting; next steps were not specified in the transcript.
