Fiscal Year 2025 Audit Results and DePaolo School Closeout
At a glance
(From auto-captions; names and numbers may be misheard.)
- What: The fiscal year 2025 audit came back clean (unmodified opinions, no material weaknesses), though late because of finance office turnover; the DePaolo school project audit closed with about $2.6 million due back to the town.
- Where it stands: Reported to the Board of Finance July 29, 2026; the finance director is still working out where about $1.6 million of the return will be booked.
Log
- 2026-07-29 - Board of Finance - Auditors reported unmodified opinions on the financial statements and the federal and state single audits, general fund balance of about $39.7 million with $35.4 million unassigned, and one management letter comment on the year-end close. The finance director reported the DePaolo project closeout: disputed costs cut from about $1.66 million to about $314,000, with roughly $2.6 million coming back.