Presentation of Audited Financial Statements

At the Town Council meeting of January 3 in the new year, representatives of the auditing team from Carr, Riggs & Ingram (CRI) responsible for auditing the Town's financials will be in attendance to present the audited financial statements of the Town. The report covers the prior fiscal year, which started on October 1, 2022 and ended on September 30, 2023. Town staff is pleased to advise that the results are considered a "clean report". All three employees at Town Hall are involved in the day-to-day transactions of the Town to ensure separation of duties and proper care in the handling of public funds. The Town Council provides important oversight.

Town staff cooperates fully with CRI's representatives, who run a variety of "tests" on the Town's books and annually make at least two all-day, on-site visits to Town Hall to support their preparation of the audit report. A member of the Town Council is also asked to participate by providing information to the auditor pertinent to the accounting environment of the Town. This year Councilmember Raphalian was consulted. The Town Manager is responsible for drafting the Management Discussion and Analysis portion of the audit report.

Areas of interest for the audit firm usually include, but are not limited to, the  Town’s  internal  control  environment,  adherence  to  applicable  standards established  by  the  Governmental  Accounting  Standards  Board  (GASB)  and compliance  with  the  Florida  Statutes,  conformance  to  established  policies  and procedures of the Town, as well as contracts and agreements to which the Town is a party.

Within 90 days of the issuance of the independent audit report, the Town must submit the report to the Florida Department of Financial Services. The Town's audit is attended to so promptly by CRI, that often the portal for submittal isn't open yet!