Independent auditor issues unmodified opinion on Jupiter Inlet Colony—s 2024 finances, notes internal‑control gaps

An independent audit of Jupiter Inlet Colony—s fiscal year ending Sept. 30, 2024, concluded with an unmodified opinion, the auditor told the commission on Sept. 8. Daniel Anderson of Bolton Jenkins said the firm issued the highest level of assurance on the financial statements but identified control weaknesses in supporting documentation and approvals.

"We have issued an unmodified opinion," Anderson said. He told commissioners the audit was performed in accordance with generally accepted auditing standards and government auditing standards and that management posted audit adjustments when recommended.

The auditor identified one formal finding tied to prior forensic work: the town was unable to provide April 2024 purchasing‑card statements and supporting documentation for testing. In addition, sampled purchasing card transactions and a sample of journal entries lacked documentation of an independent review and approval. Anderson said management had already implemented new procedures and that the town had engaged a new independent CPA and planned additional internal control improvements.

Anderson also noted forthcoming accounting pronouncements that may affect 2025 financial reporting, specifically changes in how compensated absences may be recorded.

Commissioners asked for clarifications about the scope of testing and the corrective actions; the auditor said the town—s response and new procedures had addressed many of the weaknesses the audit team examined.