Wayland auditors deliver clean fiscal 2024 report to Audit Committee

WAYLAND — January 22, 2025 — Wayland's fiscal 2024 audit comes back clean, with no management letter required. Engagement partner Alina of Markham (now under CBIZ) told the Audit Committee on Jan. 22 that the ACFR, due Jan. 31, will receive an unmodified opinion with no material weaknesses or significant deficiencies — the first year in recent memory without a formal management letter. Finance Director Brian reported unassigned general fund balance of roughly $15.97 million, or 15.9 percent of revenues excluding the MTRS on-behalf payment, with general stabilization at about $4.88 million. Member Klaus Shigley noted Moody's seeks 30 percent for triple-A ratings, calling it a rare benchmark; Alina agreed, "Not often that high." A roughly $134,000 student activity reconciliation gap and a shrinking but still significant guaranteed-deposits backlog — once $500,000 to $600,000 — remain open. The committee will recommend a one-year extension with the current auditor before issuing an RFP for fiscal 2026.