John McNamee, Finance Director, told the council that he and town auditors have met regularly and that "the auditors are anticipating issuing the '24 audit sometime at the end of this month, early December." He said another meeting is scheduled with the Auditor General and Department of Revenue on Dec. 8 and that staff expect the '24 audit to be completed and issued before that meeting.

McNamee summarized preliminary accounting figures presented to the auditors: he reported an excess/deficiency of revenue over expenditures of $1,115,661 that would reduce the town's accumulated surplus for FY24 to approximately $1,008,740 (figures presented verbally at the meeting). He said subsequent identification of additional revenues for FY25 (housing aid and permitting receipts) reduced the projected FY25 deficit and raised the FY25 accumulated surplus estimates to approximately $766,000, noting some recording of interest income remains to be completed.

McNamee said operating-cash balances across several town accounts total about $3.6 million and that tax-collection performance for the first quarter of FY26 is healthy. The council moved and approved the finance director's report at the meeting.

The council thanked McNamee for the monthly update; members also directed continued work on audit work papers and collection activity for past-due taxes as described in the director's report.