CMLP audit receives unmodified opinion despite cash reconciliation weakness
CMLP audit receives unmodified opinion despite cash control weakness. The Financial Audit Advisory Committee received the calendar year 2024 Concord Municipal Light Plant audit from CBIZ Managing Director Scott McIntire on February 26, identifying one material weakness: a $170,000 cash
Financial Audit Advisory Committee · Meeting of February 26, 2026
CONCORD — CMLP audit receives unmodified opinion despite cash control weakness. The Financial Audit Advisory Committee received the calendar year 2024 Concord Municipal Light Plant audit from CBIZ Managing Director Scott McIntire on February 26, identifying one material weakness: a $170,000 cash reconciliation variance between the CMLP's standalone general ledger and the Town's pooled general ledger as of December 31, 2024. McIntire noted the variance fell below materiality thresholds and resulted in an unmodified opinion.
Jason Bulger, Director of the Concord Municipal Light Plant, attributed the discrepancy to operational complexity and said the CMLP engaged Clifton Larson Allen for month-by-month reconciliation, with confidence that the Town's renewed 45-day cash reconciliation cycle would improve future alignment. Unrestricted net position increased $600,000 to $7.7 million; the CMLP's new auditor, Goulet, Salvidio & Associates, PC, begins work in May 2026.
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Source: the Financial Audit Advisory Committee meeting of February 26, 2026, compiled from the official minutes.
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