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Officials report ARPA spending timeline, audit progress and preliminary healthy water/sewer funds
Summary
Finance and management staff told the board they expect ARPA spending to be largely committed by Sept. 30, reported progress on reconciliations and audits, and said water and sewer funds look healthy while the general fund remains tight.
Town staff told the board they have been working to strengthen internal controls, complete reconciliations and prepare for the upcoming audit. Finance staff said the books should be closed by the end of August and that auditors are scheduled for testing later in the fall.
On ARPA and revenue, staff said they have been coordinating with grant administrators and expected ARPA funds to be spent by Sept. 30. "When we reached out and hired this firm, we have a much higher level of firm than we've had in the past," a staff member said, describing the audit firm and work to correct past issues. Water and sewer funds were described as "pretty healthy," while the general fund remains tight; staff said they will continue adjustments to payables and receivables and refine procedures to prevent recurrence of prior problems.
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