Montreat placed on state treasurer's 'watch list' after failing to submit audits in time

Montreat has been placed on the North Carolina Treasurer’s Unit Assistance List, a "watch list" of sorts, due to the town's delinquency in submitting an annual audit for fiscal years 2020 and 2021. 

"It is intended to be kind of a support system and a little pressure to get things moving," said Alex Carmichael, the town administrator.

According to a statement from the town, the audit for 2020 was due Jan 1. Although no immediate or long-term consequences are associated with being on the watch list, the town has yet to submit audits for either year. 

The town states that due to a staff personal issue, as well as the "work load/scheduling" of the town's contracted audit firm, the final draft of the 2020 audit was only recently submitted for review.

Due to the delayed return of the 2020 audit draft, the town is now in the process of filing an extension for submission with the treasurer's office. The most recent audit, for fiscal year 2021, was due Oct. 31, according to Carmichael.

Carmichael said the town plans to have the audit for fiscal year 2020 submitted by the end of the year. He said the audit for 2021 will depend on the auditor's schedule as well as the town staff's schedule, which has yet to be mapped out. 

"We're hoping that we can get our audit for the fiscal year '21 completed by July," Carmichael said.