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Audit: Ocean Isle Beach posts $2.28 million surplus, strong reserves for storm response
Summary
Independent auditors reported a $2,277,000 positive net change for the Town of Ocean Isle Beach in fiscal year 2023–24, strong unassigned fund balance and no significant audit findings.
Austin Eubanks, audit manager at Thompson Price, Scott & Adams, presented the Town of Ocean Isle Beach fiscal year 2023–24 financial audit, saying the firm provided "reasonable assurance that the financial statements are free of material error." The audit covered the year ending June 30, 2024.
The audit showed total general‑fund revenues of $11,513,000 and expenditures of $9,235,000, producing a positive net change of $2,277,000. Auditors…
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