Hardeeville leaders accept clean audit report for fiscal year 2024

In the heart of Hardeeville, city officials gathered on December 12, 2024, to discuss the financial health of their community, a topic that resonates deeply with residents and stakeholders alike. The atmosphere in the city hall was one of anticipation as the council prepared to review the audit report for the fiscal year 2024, presented by Trey Scott from Malden and Jenkins.

Scott began his presentation by highlighting the significance of the audit, which serves as a crucial indicator of the city’s financial integrity. He proudly announced that Hardeeville received a clean, unmodified opinion on its financial statements, affirming that they accurately reflect the city’s financial position as of June 30, 2024. This clean opinion is the highest level of assurance an auditor can provide, a testament to the diligent work of the city’s finance team.

However, the audit was not without its findings. Scott noted a minor compliance issue regarding the city’s bank deposits, which had not been properly collateralized as required by state law. This was quickly rectified, and Scott reassured the council that it was a timing issue rather than a significant deficiency. The council members listened attentively, understanding the importance of maintaining compliance to safeguard public funds.

The financial report revealed encouraging trends for Hardeeville. The city’s net position increased to nearly $76 million, with revenues exceeding expenses by approximately $17 million. The general fund balance stood at a robust $23 million, reflecting a healthy financial state that allows for future investments in community projects. Scott emphasized that the city had about seven months of expenditures in fund balance, a strong indicator of financial stability.

As the presentation concluded, Scott shared insights into the city’s growth over the past five years, showcasing a significant increase in general fund revenues from $12.5 million in 2020 to over $30 million in 2024. This upward trajectory not only highlights the city’s economic resilience but also sets a positive tone for future planning and development.

The meeting wrapped up with council members expressing their appreciation for the thorough audit and the transparency it brings to Hardeeville’s financial operations. As the city looks ahead, the findings from this audit will undoubtedly play a pivotal role in shaping its fiscal strategies and ensuring continued prosperity for its residents. The council’s commitment to financial accountability and community engagement remains steadfast, promising a bright future for Hardeeville.