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Highland Beach posts larger net position, receives clean audit for FY 2024
Summary
Auditors gave the Town of Highland Beach a clean opinion for fiscal year ending Sept. 30, 2024, reporting an 11.7% increase in net position and noting a capitalization-policy difference as the only finding.
The Town of Highland Beach received a clean audit opinion for the fiscal year ending Sept. 30, 2024, with auditors reporting the town’s net position rose 11.7%, from about $26.3 million to roughly $29.4 million.
The independent auditor said the increase in net position reflected gains across major funds, including the general fund and enterprise funds, and growth in town assets tied largely to completion of the new fire station. The auditor also reported one audit finding concerning the town’s method of capitalizing certain assets; the town adjusted its capitalization treatment at the auditors’ request.
The auditor,…
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