Brown Plus gives Palmyra Borough an unmodified opinion on 2024 financials; highlights transfers to new police commission

Scott Henry, audit partner with Brown Plus, presented the highlights of the borough's 2024 audit and said the firm issued an unmodified opinion on Palmyra Borough's financial statements. He told council the opinion “is the best opinion that we can give” and indicates the statements are materially correct and in accordance with generally accepted accounting principles.

The audit matters: Brown Plus reported total assets decreased by roughly $1.5 million in 2024 and total liabilities decreased by about $2.2 million. Henry said the asset decline reflected capital purchases and the use of ARPA funds, while the liability decline reflected paydown of prior‑year payables, normal debt payments and transfer of compensated‑absence balances related to police staff to the new police commission. He reported governmental‑activities net position of about $15 million and business‑type activities net position of about $7 million.

The n…