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Gilford to switch credit‑card processor; GASB 75 filing expected to clear audit issue
Summary
Finance Director Katherine Davis reported the town will move credit‑card services from BMO to U.S. Bank, has filed the GASB 75 actuarial report for 2025 with auditors to remove a longstanding adverse opinion, and set Vision CAMA go‑live July 28.
Finance Director Katherine Davis told the Board the Town will transition credit cards from BMO to U.S. Bank, the winning vendor under the PFMFS bid award. She said the Town "has received the GASB 75 actuarial report for the year ended December 31, 2025" and that it has been submitted to auditors; Davis said the filing should eliminate an adverse audit opinion the Town has received for noncompliance since the pronouncement took effect in 2007.
Davis also reported the current balance of the DPW building NHPDIP account at $4,768,952 (not including July expenditures) and that the account has yielded $297,187 in interest income to date. She said the new assessing software, Vision, is in final development and has a go‑live date of July 28; the Town is also preparing for the 2026 computer replacement project.
