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Thompson Audit Finds Strong Finances

Patricio Robayo
Posted 9/29/26

THOMPSON — The Town of Thompson received a clean financial audit at its Sept. 15 meeting, while the town board also moved forward with several sewer and recreation projects.

Justin Wood of …

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Thompson Audit Finds Strong Finances

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THOMPSON — The Town of Thompson received a clean financial audit at its Sept. 15 meeting, while the town board also moved forward with several sewer and recreation projects.

Justin Wood of Nugent & Haussler, the town’s outside auditing firm, told the board that Thompson’s 2025 finances performed better than budgeted in several major funds.

The townwide general fund had planned to use more than $3 million in fund balance during 2025, but ended the year with a decrease of about $866,000.

Wood said that meant the budget performed about $2 million better than anticipated.

“Management did a good job of controlling the expenditures and just budgeting conservatively overall,” Wood told the board.

The townwide general fund also had about $6 million in available fund balance after accounting for money already planned for use in the 2026 budget.

Wood noted that the town’s two highway funds were below a 20 percent fund balance benchmark used as one measure of fiscal health. However, he said the corresponding general funds share the same tax base and remain strong, giving the town options when preparing future budgets.

The audit found no internal control findings or material journal entries, and the Town Justice Court also received a clean audit. The board later voted to formally accept the report.

Sewer and Park Projects Move Forward

The board also approved four contracts for Phase 1 of the Emerald Green Wastewater Treatment Plant upgrade.

The contracts include $2.924 million to Coppola Services Inc. for general construction, $459,724 to TAM Enterprises for electrical work, $158,700 to DJ Heating and Air Conditioning for HVAC work and $221,810 to S&O Construction for plumbing.

At Lake Ida Park in Rock Hill, the board accepted a $129,850 bid for a new 40-by-60-foot pavilion.

Board members were surprised by the price, which came in below several competing bids, and also approved offering the contractor a second pavilion at the same price if the company agrees.

The town authorized up to $260,000 from restricted park funds for the work. Officials said construction could begin this year if weather allows, or otherwise start in the spring.

The board also set an Oct. 6 public hearing on a proposed extension of the Consolidated Harris Sewer District involving 190 Cold Spring Road, where the owner is proposing up to six additional homes.

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