Independent audit: Red Bank reports unmodified opinion, $3.3 million in capital outlay for 2024

The city’s independent auditors told the Red Bank Board of Commissioners that the fiscal 2024 financial statements received an unmodified opinion and that the general fund ended the year with a modest increase while the city invested about $3.3 million in capital projects.

Brian Wright, a partner at Johnson, Murphy & Wright, presented the audit and highlighted the government‑wide statement of revenues and expenditures. Wright said the general fund had total revenues of about $12.6 million and total expenditures of about $12.9 million, offset in part by debt proceeds; the result left the general fund with a net positive change in fund balance compared with the prior year. He said capital outlay for the year totaled approximately $3.3 million, with about $800,000 for police and fire, $1 million for public works and signalization, roughly $1 million for drainage improvements, and $200,000 for parks work.

Wright said the single‑audit review of major federal programs produced no material weaknesses, no findings of noncompliance and a clean opinion on major programs. He described the audit opinion as an "unmodified opinion," meaning no modifications were necessary. Wright also directed commissioners to summary charts and graphs early in the report and noted more detailed schedules later in the document.

City Manager Granham and staff thanked the audit team and said the results reflect work across police, fire, public works and records staff. The auditor offered to provide additional detail on any line items if commissioners or staff need it.