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Rangeley auditors deliver clean opinion; board unanimously accepts draft audit
Summary
Auditor Heather Hunter told the board RHR Smith’s draft audit for the year ending June 30, 2025, presents a clean opinion and shows a modest increase in assets; the selectboard voted unanimously to accept the draft and authorize the town manager to finalize it.
Heather Hunter, director of audit for RHR Smith & Company, presented the town’s draft audit and explained the auditor’s role and major trends in Rangeley’s finances. “So I’m Heather Hunter. I’m the director of audit for RHR Smith and Company,” Hunter said as she opened a slide deck that summarized the town’s fiscal year results. She described the audit as a draft clean opinion and walked the board through year‑over‑year changes in assets, liabilities and fund balances.
Hunter told the board total general fund assets rose $617,428 (3.2%), cash increased by $336,188 and liabilities rose $748,669 (9.1%), leaving a total fund balance near $5.0 million. She said liquidity ratios and expenditure coverage were strong and that there were no management letter comments this year. Following the presentation, a board member moved to accept the draft audit and authorize the town manager to sign the final documents; the motion was seconded and the board approved the draft audit unanimously. The chair noted, “All those in favor? That’s unanimous vote.”
Why it matters: A clean (unqualified) audit and strong liquidity metrics give the town more flexibility in budget planning and capital projects. The accepted draft will be finalized in accordance with the auditor’s process and returned with a signed opinion once the board’s acceptance is processed.
