The Town of Leland has received an unmodified or “clean” audit opinion and notation of strong financial health for fiscal year 2023-2024, which ran from July 1, 2023 through June 30, 2024.
Alan Thompson of Thompson, Price, Scott, Adams & Co, P.A., the independent accounting firm that conducted the audit, presented results of the FY23/24 audit to Leland Town Council during its regular meeting on Dec. 19.
The audit includes the following figures of note:
- The year-end General Fund cash balance totaled $21,821,769, an increase from $19,434,626 last year and the highest cash balance to date.
- The total fund balance is 45.66% of General Fund Expenditures, an increase from 38.94% last year.
- Collection percentages for property and motor vehicle tax were strong at 99.66%. This is due to the diligence of the Brunswick County Tax Office, which collects taxes and remits to the Town.
In addition, the audit noted financial statement disclosures as: neutral, consistent, and clear; no disagreements with management; and no difficulties encountered during the audit.
For more information regarding FY23/24 audit results, contact Leland Finance Director Carly Hagg at (910) 338-9735.