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Auditors issue clean FY2025 opinion; single recurring reconciliation finding flagged
Summary
Telling and Hillman, P.C. reported a clean audit opinion for Manchester's FY2025 financials while noting a recurring timing issue: the General Ledger operating checking account has not been reconciling to the ledger for several years; town staff plan monthly reconciliations and may contract NEMRC for bank reconciliation work.
Auditor Kyle Lussier of Telling and Hillman, P.C. told the Selectboard the firm issued a clean opinion for the Town’s FY2025 financial statements and did not identify any material misstatements. Lussier said there was one testing finding: the General Ledger operating checking account was not reconciling to the General Ledger, a timing/module tie-back issue that had appeared in prior years; the Town has begun steps to address it.
Lussier read from the audit summary: “Given these limitations during our audit, we did not identify any deficiencies in internal control that we consider to be a material weakness.” Town staff and a representative familiar with NEMRC’s software explained that independent modules and period-based processing can create a consistent timing difference; staff said they will perform monthly reconciliations and are discussing contracting NEMRC to provide bank reconciliation services. Selectboard members pressed for better reporting and monthly financial statements beginning with the new fiscal year. A board member asked whether the discrepancy could reflect fraud; Lussier said the amount was not material and the firm had no evidence of embezzlement in the audited periods.
