External auditors give Cutler Bay a clean opinion on fiscal 2024 financial report

Caballero, Fehrman & Garcia (CFLG, LLP) presented the town’s fiscal year 2024 annual comprehensive financial report (ACFR) to the council on July 17 and delivered an unmodified opinion on the financial statements. Elias Rodriguez, senior manager for the audit team, told the council the auditors found no reportable findings in the financial‑reporting or single‑audit sections and identified no corrected or uncorrected misstatements.

Rodriguez highlighted several financial details in the ACFR. He reported the town’s general fund unassigned fund balance at about $28.28 million and noted that the town’s stormwater enterprise fund showed an unrestricted net position deficit of roughly $160,000 — an improvement from the prior year deficit of about $600,000. Rodriguez said management had adjusted stormwater rates for part of 2024 and expects the full‑year rate changes to eliminate the deficit in fiscal 2025.

The auditor also noted the ACFR includes the management’s discussion and analysis, required supplementary information and full disclosure notes as required by GASB. The presentation said the town should again qualify for the Government Finance Officers Association (GFOA) Certificate of Achievement for excellence in financial reporting based on the materials submitted for fiscal 2023 and the 2024 statements under review.

Council members thanked the finance staff for the work on the audit and recognized the absence of audit findings as a positive outcome. The ACFR and the auditor’s communication letter were published on the council agenda and are available to the public, staff said.