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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.
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The audit did not require financial statement adjustments, and operating cash covered debt payments, payments to the Town, and capital costs. However, CMLP and Town financial records were not reconciled reliably, so staff are pursuing month-by-month reconciliation and a 45-day monthly reconciliation cycle. The committee postponed its review of the FY24 Concord-Carlisle Regional School District audit until a future meeting.
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