MANNFORD — The Mannford Board of Trustees approved the town’s 2025-2026 fiscal year audit after an independent review found no reportable instances of noncompliance or other matters requiring attention.
The audit, prepared by CBEW Professional Group LLP, covered the fiscal year ending June 30, 2026. The board approved the audit during its meeting following a motion by trustee Jeff Widener and a second by Clay Abercrombie. The matter was approved on a 4-0 vote.
Finance Director Britny Porter said the audit process went smoothly and was completed within one day with no deficiencies or concerns identified.
“Each department ended with a positive balance and no negatives having to pull from fund balances,” Porter said.
Porter also reported that no unexpected revenues or expenditures significantly impacted the town’s financial position during the fiscal year. She said auditors made no recommendations for town staff to implement.
In the report, auditors’ noted financial statements “present fairly” in all material respects under the method used along with changes in its financial position and applicable cash flows for the fiscal year. The auditors also reported no instances of noncompliance or other matters that were required to be reported under Government Auditing Standards based on their testing.
The financial statements were prepared using the modified cash basis of accounting which is an accounting method that differs from generally accepted accounting principles. The auditors noted this distinction in their report but did not modify their opinions because of it.
The audit included reviews of the town’s governmental activities, business-type activities, major funds, and remaining fund information.
Total assets on the statement of net position modified cash basis revealed over $48 million with governmental activities and business-type activities combined. Liabilities on the same page totalled over $13 million. The total net position was listed at $34,780,329. Listed on the statement of revenue, expenditures and changes in fund balances modified cash basis governmental funds page was a fund balance from the beginning of year as $1,021,635. The fund balance at end of year was listed as $1,097,126.
With the audit approved and no corrective actions identified by the auditors, Mannford concluded its review of the 2025-2026 fiscal year financial statements.