Auditors give Pound Ridge a 'clean' bill of financial health

By THANE GRAUEL

The Town Board on Tuesday heard a presentation on the town’s annual audit for the fiscal year ending Dec. 31, 2025.

Lawrence Felderman, from the town’s auditor, PFK O’Connor Davies, made positive remarks about the town’s finances in what the agenda called “draft financial statements.” 

“We anticipate the issuance of what we term an ‘unmodified opinion,”’ Feldman said. “An unmodified opinion is a clean opinion. It’s the highest level of assurance that an entity can receive, and it basically states that the financial statements present fairly the financial position of the town.”

The audit found no major problems but lesser issues were said to be detailed in a “management letter” to town leaders. That document was not in the meeting materials posted online. Supervisor Kevin Hansan said Thursday the report was a draft presentation, and the final version would be available to the public when filed.

“We also issued our required communication to you folks, those charged with governance, together with our management letter,” Feldman said at the meeting. “I’m happy to report that although we did have some control deficiencies, nothing rose to the level that we call a material weakness or a significant deficiency. We felt that some of these control deficiencies, if they were implemented, they would improve internal controls.”

The presentation focused on tax rates, debt, revenues, health insurance premiums, mortgage tax revenues and sales tax revenues.

In public comments before the presentation, John McCown had several questions, including why financial documents hadn’t been made public before the meeting. He also questioned the audit’s cost when compared to neighboring Bedford.

Hansan said Thursday the town had “another really strong fiscal year.”

“Expenses were managed perfectly,” he said, with the flexibility to absorb unexpected expenses, including a blighted property cleanup and what he called frivolous lawsuits. The town is defending against appeals of lawsuits that unsuccessfully challenged its handling of the state’s cannabis opt-out process and the formation of a water district for Scotts Corners.

He said some major projects were undertaken, utilizing grant money. They included a new structure at the Town Park, a new van for recreation activities and emergency repairs to the town pool’s filtration system.

“Nine years of being under the tax cap,” Hansan told The Recorder. “Nine years of adding to the unrestricted fund balance, our savings. Nine years of capital improvements around town residents can see.”