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Hope Mills receives clean FY2025 audit despite falling fund balance
Summary
Auditors issued an unmodified (clean) opinion on the Town of Hope Mills’ FY2025 financial statements, but report the town’s unassigned fund balance and certain financial ratios declined; public safety accounted for nearly half of total expenditures in 2025.
The Town of Hope Mills received an unmodified — or clean — audit opinion for the fiscal year ending June 30, 2025, auditors told the Board of Commissioners on Feb. 16.
Jay Sharp, audit partner with Sharp & Patel, reported the audit was completed on schedule and submitted to the Local Government Commission (LGC). Sharp said revenues totaled about $19.5 million for 2025 while expenditures were roughly $22.9 million, driving a decrease in the town’s fund balance to about $8.1 million from $9.5 million the prior year.
The most immediately notable audit metrics were the…
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