Northampton receives unmodified FY2025 audit opinion with $130 million liability
Northampton Finance Committee receives clean audit on city finances. The FY2025 audit of Northampton received an unmodified opinion, the highest classification possible, with independent auditor Thomas J. Scanlon, Jr., praising the city's financial controls and management. Finance Director Charlene
City Council Committee on Finance · Meeting of April 29, 2026
Northampton Finance Committee receives clean audit on city finances. The FY2025 audit of Northampton received an unmodified opinion, the highest classification possible, with independent auditor Thomas J. Scanlon, Jr., praising the city's financial controls and management.
Finance Director Charlene Nardi reported total fund balance at $53.6 million and unassigned funds at $26.3 million. However, Northampton faces a negative $130 million in unrestricted net position, primarily driven by a $121 million Other Post-Employment Benefits liability and a $54 million pension liability expected to be fully funded in 2037. The city generated $7 million in Free Cash in FY2025 and maintains reserves at approximately 23 percent of its operating budget.
In the full story:
- The complete report — 241 words
Source: the City Council Committee on Finance meeting of April 29, 2026, compiled from the official minutes.
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