Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Municipal Finance topic
No spam. Unsubscribe anytime.
Independent auditors give Town of Jupiter a clean opinion for FY 2025
Summary
External auditors reported an unmodified (clean) opinion on the Town of Jupiter's financial statements for the fiscal year ended Sept. 30, 2025, noting strong reserves, capital assets, and no internal control deficiencies; councilors praised staff and the town's finance team.
Moraiza of CBIC CPAs told the Town Council on April 21 that the firm issued an unmodified, or clean, opinion on the Town of Jupiter's audited financial statements for the fiscal year ended Sept. 30, 2025. "Based on our audit procedures, we believe that the accompanying financial statements of the town of Jupiter present fairly in all material respects the financial position and the financial activity of the town for the fiscal year ended September 30th, 2025," the auditor said.
The auditor highlighted the management discussion and analysis (printed pages 5–14) as a concise guide to a nearly 150‑page annual comprehensive financial report. Key figures presented by the auditor included total assets of about $689.2 million, an unrestricted net position of roughly $193.6 million and a positive change in net position of approximately $29.2 million, producing an ending net position near $622.6 million.
The presentation called attention to the town's investment portfolio (including funds identified as Florida Prime, Florida Class and Florida Trust) and capital assets (reported on printed pages 54–55). The auditors also reviewed federal award spending and noted a robust year of federal expenditures—more than $2.6 million—largely tied to the Coronavirus State and Local Fiscal Recovery Fund.
On internal controls and compliance testing, Moraiza said the firm found "no deficiencies to report" in the internal control report (printed page 136) and no reportable items in the single audit (printed material beginning at page 137). Council members pressed for detail on a pension item called out on printed page 100; the auditor said the municipal officers retirement trust was approximately 94% funded on the basis reported and described that as a favorable outcome.
Council members and the mayor thanked the finance staff and audit committee for their work producing the ACFR and for cooperation with the auditors throughout the four‑month audit process. The auditor said the communication to those charged with governance was issued March 31 and the audit process began in October.
