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Sunny Isles Beach posts clean FY2025 audit; net position rises about $7.4 million
Summary
Independent auditors issued an unmodified opinion on Sunny Isles Beach's FY2025 financial statements and reported no findings or material weaknesses; the city's net position increased to about $345.2 million, up roughly $7.4 million from the prior year.
An independent audit presented to the commission reported a clean, unmodified opinion on the City of Sunny Isles Beach's fiscal year 2025 financial statements and no significant deficiencies or material weaknesses.
Elias Rodriguez, the CBiz senior manager who led the engagement, said the auditor issued an unmodified opinion and highlighted the Management Discussion and Analysis (MD&A) as a concise place for elected officials and the public to review key quantitative and qualitative changes. "In our opinion, the accompanying financial statements present fairly in all material respects," Rodriguez said.
Key figures in the audit presentation include an ending net position of about $345.2 million and a positive change in net position of approximately $7.4 million for the year ended Sept. 30, 2025. The auditors also reported no disagreements with management and no difficulties in dealing with management during the engagement.
Commissioners asked whether the recent reduction in the millage rate to 1.7 had negatively affected city finances. Rodriguez said the auditor's engagement did not include a separate analysis of millage policy impacts and recommended commissioners consult management for a revenue projection. City staff confirmed the city remains fiscally strong and noted awards the finance team has received for budget presentation.
The auditor's communications letter and the comprehensive annual financial report (ACFR) were provided to commissioners; staff said the city will file the ACFR and continue related transparency work.
