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Brooks posts clean FY2024 audit; fund balances reported and payroll schedule altered for staff
Summary
Town Finance Officer Lorey Spohr reported the FY2024 audit closed with no significant findings; as of June 30, 2024, the town's unassigned fund balance was $483,583 and restricted LMIG balance $41,315 (total $524,898). Per auditor request, town employees (not mayor/council) will move to semi-monthly payroll.
The Brooks Town Council heard its FY2024 financial results and administrative updates on Feb. 24. Finance Officer Lorey (L.) Spohr said the FY2024 audit was completed with no significant findings. As of June 30, 2024, the town’s unassigned fund balance was $483,583 and the restricted LMIG fund balance was $41,315, for a combined $524,898.
Spohr reviewed recent revenue trends: January LOST revenue was up 5.63% compared with the previous January, December 2024 SPLOST revenue was up 5.92% year over year, and YTD 2023 SPLOST was up 7.76%. She also reminded businesses that 2025 business-license renewals are due March 31, 2025; seven renewals remained outstanding at the time of the meeting.
At the auditor’s request, the town will change payroll for town employees (excluding the mayor and council) to a semi-monthly schedule; the mayor and council will remain on monthly pay. The council did not take an additional formal action on the payroll change during the meeting beyond the clerk’s announcement.
The council received the financial update during routine reports; no formal motions tied directly to the audit report were recorded in the minutes.
