WEYMOUTH - June 1, 2026 - The Weymouth Town Council unanimously accepted the town’s fiscal year 2025 financial statements following a clean, unmodified independent audit report. The presentation highlighted a major administrative turnaround, executing a much faster reporting cycle to successfully resolve multiple past accounting vulnerabilities and close a previously delayed fiscal timeline by six months.
The Full Story
Independent auditors Scott McIntire and Zach Nolan of CBIZ presented the finalized June 30, 2025 financial statements to the Town Council, declaring the town’s books and records to be in good working order. The audit resulted in an unmodified opinion, indicating that Weymouth’s financial positions are fairly and materially presented in accordance with Generally Accepted Accounting Principles (GAAP).
The presentation stood in stark contrast to the council’s review of the fiscal year 2024 audit, which occurred just six months prior on December 1. Councilors praised the town administration for establishing weekly tracking calls that accelerated the compilation process. The town’s unassigned fund balance for the general fund increased by approximately $3 million over the prior year to a total of $17 million. For state reporting purposes, this unassigned balance includes $10 million earmarked in the stabilization account and $7 million in true general fund free cash.
On long-term obligations, the auditors noted that Weymouth’s current pension funding schedule is approved by the State Oversight Agency and is on track to mature in 2037, assuming all actuarial assumptions hold true. Other Post-Employment Benefits (OPEB) liability remains an ongoing challenge, though auditors observed that Weymouth, like many Massachusetts municipalities, plans to redirect resources toward OPEB once the pension system is fully funded.
Of five internal control recommendations raised during the prior year’s audit, three have been fully resolved. The remaining two issues carried over into the current report due to the tight timing between audit cycles. These involve a recommendation to separate commingled capital article funds from the general ledger into distinct water, sewer, and general fund reporting units, alongside a directive to investigate or write off stagnant receivables in the Community Development Block Grant (CDBG) funds. Internal Auditor Brian Connolly noted that in 31 years of public sector work, he had never seen an administration successfully pull off back-to-back audits so quickly.
“[The administration] really got focused, really buckled down, and they got this thing done quite well. I give them a lot of credit for that, a lot of props on that.” — Internal Auditor Brian Connolly
