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Auditor: Hope's FY23 books in order; recommends raising undesignated fund balance
Summary
Presenter Bill Brewer told the Select Board the FY23 municipal audit found the town's books in good order and recommended increasing the undesignated fund/overlay balance above the current $12,000–$15,000 target to improve fiscal resiliency.
Bill Brewer presented the FY23 audit covering July 1, 2022 through June 30, 2023 and reported that the town’s books were found to be in good order. He explained that the Hope Elementary School audit is part of the municipal audit and cannot be separated, in part because pandemic-era ESSR funds slowed and delayed school audits.
Brewer recommended the board increase the undesignated fund/overlay balance, saying the current target of $12,000 to $15,000 is likely too low if an unexpected problem arises. A copy of the audit was noted as available on the town website under Audit/Finances.
