Town receives clean audit; general fund balance increased about $1 million

The Town of Indian River Shores received a clean (unmodified) audit opinion for the fiscal year ending Sept. 30, 2024, the council heard when Christine Knoll of Carr, Riggs & Ingram presented the audited financial statements.

Knoll highlighted that the town’s general‑fund balance increased by approximately $1 million year‑over‑year. Revenues rose roughly $780,000, primarily due to increased property tax values, and expenditures declined about $271,000 because the Pebble Bay Estates capital project concluded in the prior year. She noted the planning and zoning fund became a major fund this year, which required presentation adjustments in the statements. Knoll also summarized that the town’s ARPA fund had spent $350,000 as of Sept. 30, leaving about $240,000 unobligated; ARPA obligations had to be made by December with spending through December 2026.

Knoll said management came in under budget on major funds and auditors had no findings or recommendations. She noted the required financial‑condition assessment gave the town a favorable rating compared with peers, and that new accounting standards will require accrual for sick‑leave liabilities next year.

Council members praised Finance Director Heather (surname in transcript referenced as Heather/Heather Christmas) for thorough recordkeeping and timely delivery; the council later approved the audited financial statements by voice vote. Councilmember comments included small suggested wording clarifications and compliments on the town’s fiscal management.

The council recorded formal approval of the audited statements during the meeting; no audit findings were reported in the presentation.