Financial Audit Advisory Committee approves FY24 audit review, defers FY25 discussion.
Concord's Financial Audit Advisory Committee approved the FY24 audit, which earned an unmodified opinion despite four identified material weaknesses in internal controls. Chief Financial Officer Jennifer Barrett and external auditor Scott McIntire of CBIZ reported that the Town's General Fund
Financial Audit Advisory Committee · Meeting of February 11, 2026
Concord's Financial Audit Advisory Committee approved the FY24 audit, which earned an unmodified opinion despite four identified material weaknesses in internal controls. Chief Financial Officer Jennifer Barrett and external auditor Scott McIntire of CBIZ reported that the Town's General Fund unassigned fund balance increased $4.9 million to $17.9 million, driven by strong budgetary results and investment earnings. Material weaknesses span cash and receivable reconciliations, cut-off and capitalization controls, budget posting discrepancies, and journal entry controls.
The Committee deferred FY25 audit discussion and scheduled a follow-up meeting for February 26, 2026, to examine root causes of the findings and staffing changes within the Finance Department.
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Source: the Financial Audit Advisory Committee meeting of February 11, 2026, compiled from the official minutes.
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