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Bel Air accepts FY2025 audit showing $1.3 million excess and healthy reserves
Summary
Town finance staff presented the FY2025 audit May 4; the board accepted the audit, which showed roughly $1.3 million excess of revenues over expenditures and strong reserve balances including a $5.8 million capital reserve.
Bel Air officials presented and the Board of Town Commissioners accepted the fiscal‑year 2025 audit at the May 4 meeting. The audit, completed by SB and Company LLC, reported an excess of revenues over expenditures of about $1.3 million and noted no major internal control deficiencies.
Finance staff (Miss Moody) told the board the town’s unassigned general‑fund balance stood at a little over $2.8 million (an increase of approximately $213,000 from the prior year). Transfers included $95,751 to a stormwater management reserve (ending balance $437,000), $50,783 to a stabilization reserve (ending balance nearly $1.6 million), and $949,000 to the capital reserve (ending balance about $5.8 million). The parking enterprise fund showed a net loss of $119,000; the sewer fund reported net income of nearly $400,000 largely due to lower flows and lower Harford County charges.
The audit will be posted on the town’s website; staff recommended acceptance and commissioners voted to accept the audit unanimously.
Miss Moody said the report found no major internal control issues and highlighted one‑time items and investment income (including ARPA interest recognition) that contributed to results.
