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The Audit Committee unanimously recommended that the Board of Directors accept the 2025 audited financial statements for CMEEC and Transco, unless material changes are identified. The audit found unmodified opinions and one significant deficiency in internal controls over financial reporting.
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The recommendation means the financial statements were judged fairly presented, but auditors identified one important weakness in the procedures used to ensure financial reporting accuracy. The Board of Directors is expected to consider acceptance at its next meeting. Staff will also provide more detail about how several funds were reported in the financial statements.
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