Despite concerns over spending that led to the resignation of Cary’s former town manager in December, town council members received assurance at their regular meeting Thursday that an audit of financial statements from the last fiscal year indicate the town’s financial condition is solid.
But the annual audit, which is nearing completion, found flaws in the town’s internal controls over its financial reporting due to the “tone at the top,” in the auditor’s words, set by former town manager Sean Stegall.
Lee Ann Watters, the engagement director for the team leading the audit of Cary’s financial statements from Fiscal Year 2025 on behalf of the firm Cherry Bekaert, walked the council through the team’s work…