What: the Town's overdue annual audits and the treasurer cash reconciliation findings.
Where it stands: The FY2024 audit is final with an unmodified opinion and four federal grant findings; FY2025 fieldwork is complete and FY2026 books are still being closed.
Next: Present the FY2025 audit on the first available agenda, then schedule FY2026.
The interim finance consultant presented the FY2024 audit: unmodified opinion, no adverse effect on the bond rating, and four findings (Town Meeting votes not reconciled to the accounting records, cash book not fully reconciled to the ledger, late federal grant reports, and a disputed procurement finding). Contributing factors were the new accounting system and staff turnover. Board members asked about cash reconciliation and compensated absences balances; the FY2025 audit is expected within a couple of months.
The School Committee accepted the school department's FY24 audit report unanimously: a clean audit with two minor notes (a debt service typo already amended, and a state request for a written School Committee and Select Board agreement on shared expenses once the Town hires a finance director). FY25 is expected after the Town finishes its audit.