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Timnath accepts 2025 town and GID audits after Adams Group reports clean opinions
Summary
Timnath council accepted the 2025 audits for both the Town and the Tinnock Landing General Improvement District; Adams Group auditors issued unmodified (clean) opinions and reported no material weaknesses or disagreements with management.
Timnath council accepted two audit reports for 2025 after auditors from the Adams Group reported clean, unmodified opinions and no significant internal-control weaknesses.
Abby Irvine, the town’s accounting manager, presented the Tinnock Landing GID audit and noted limited activity in the district. Eric Miller of the Adams Group told the board the GID audit produced an "unmodified or a clean opinion" and that testing of invoices, cash disbursements and approvals found no reportable issues.
Later in the meeting Irvine presented the town’s annual comprehensive financial report (ACFR). Miller again delivered a clean opinion on the town financial statements, noting no disagreements with management and no compliance opinion because federal-award spending did not exceed the $1,000,000 threshold. Key numbers from the ACFR included a year-end net position of roughly $103 million and total revenues around $43 million for 2025, up about $1.5 million (4%) from 2024. Total expenses were about $34 million.
Council members praised finance staff for timely reporting, noted the conversion to a new financial system aided monthly reporting, and discussed the governance and management letters. Council confirmed the town will file the report with the state by the July 31 deadline. "We are right up against that deadline... we will be getting that filed on time this year," Irvine said. The council voted to accept both audits by voice vote.
Why it matters: Clean audit opinions and timely filing indicate the town and GID satisfied reporting requirements and did not have material internal-control failures for 2025. The ACFR also supplies the historical and statistical data the council uses during budget deliberations.
Next steps: The governance communication and management letter are included in the packet for council review, and staff will submit the ACFR to the Government Finance Officers Association for consideration of the financial reporting award.
