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Town approves auditor engagement after federal funding triggers single audit
Summary
The select board authorized Sullivan Powers and Company for FY2025 auditing services after town staff said the municipality exceeded the $750,000 federal funding threshold (wastewater and FEMA), requiring a single audit and raising audit costs by about $5,000.
Committee member (speaker 10) told the board the town exceeded the federal threshold of $750,000 in grant receipts between the wastewater project and FEMA assistance, which requires a single audit. "We've collected more than $750,000 in federal funds between the, wastewater and FEMA," the speaker said, and added that the single‑audit work would increase the town's audit cost by about $5,000 beyond the regular audit budget.
