CommitteeConcord

Financial Audit Advisory Committee

Track committee activity, current roster, and published meeting coverage for Financial Audit Advisory Committee in Concord.

0 active membersLast meeting Jul 15, 20267 summaries in 30d

Summaries

Active roster

Latest activity

Aug 20, 2026

Municipality

Concord

Latest coverage

Audit Finds Four Material Weaknesses

Published Aug 20, 2026

Related summaries

Published meeting coverage connected to Financial Audit Advisory Committee.

Briefing

Jun 17, 2026

Committee Approves School Audit Summary

The committee voted 7-0 to approve a summary letter about the FY24 Concord-Carlisle Regional School District audit, with revised signatories. Members also planned a July 15 working meeting because the CMLP audit was not expected to be complete by mid-July.

1 min readMunicipal coverage

Briefing

May 12, 2026

School district audit found no material weaknesses

The FY25 audit of the Concord-Carlisle Regional School District received an unmodified opinion, and the external auditor identified no material weaknesses in internal controls. The district’s pension plan was 91.78% funded and its other post-employment benefits plan was 62% funded.

1 min readMunicipal coverage

Briefing

Apr 14, 2026

Committee Approves Three Audit Letters

The committee unanimously approved revised FY2024 audit letters for the Town, Concord Municipal Light Plant, and Concord-Carlisle Regional School District. The Town and Light Plant letters address four recommendations, while the school district letter contains one recommendation and reports no material weaknesses.

2 min readMunicipal coverage

Briefing

Apr 1, 2026

Audit committee expands financial oversight

The committee agreed to move toward more frequent meetings and a regular schedule independent of audit timing, citing the scope of prior material weaknesses. It will add this commitment to draft letters and seek updates on internal controls and financial-system integration.

2 min readMunicipal coverage

Briefing

Mar 9, 2026

Committee Flags Financial Control Risks

The committee identified unresolved audit questions, a past staffing-related weakness in financial review controls, and ongoing cash-reconciliation problems between the Town and CMLP systems. It plans to draft recommendations to the Select Board and CMLP Board, while seeking additional information from the auditor at its next meeting.

2 min readMunicipal coverage

Briefing

Feb 26, 2026

Light Plant Audit Finds Cash Control Weakness

The Concord Municipal Light Plant received an unmodified audit opinion for calendar year 2024, but auditors identified a material weakness in cash-reconciliation controls involving an approximately $170,000 variance. CMLP reported hiring a new audit firm under a two-year agreement for 2025 and 2026 audits.

1 min readMunicipal coverage

Briefing

Feb 11, 2026

Audit Finds Four Material Weaknesses

The FY24 audit received an unmodified, or clean, opinion, but identified four material weaknesses in financial controls: cash and receivable reconciliations, transaction timing and capitalization, budget postings, and journal-entry reviews. The general fund’s unassigned balance increased by $4.9 million to $17.9 million.

2 min readMunicipal coverage