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James Island auditor issues clean opinion; town ends year with strong cash position
Summary
An independent auditor gave the Town of James Island an unqualified (clean) opinion for fiscal year 2024, reporting roughly $4.04–4.5 million in general‑fund revenues, positive operating income and about $570,000 in ARPA funds remaining. Council discussed that strong finances should help upcoming bond financing for a community arts center.
The Town of James Island received an unqualified (clean) audit opinion for fiscal year 2024, auditor Gary Bailey told the Town Council at its regular meeting.
Bailey said general‑fund revenues were about $4.04–4.5 million for fiscal 2024, an increase of roughly $700,000 from 2023. He attributed much of the year‑to‑year revenue jump to higher municipal fees (insurance‑related fees), which rose from about $1.1 million to about $1.5 million in 2024. Bailey said interest income also rose to about $100,000 after moving funds to the state…
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