The Town of Leland has received an unmodified or “clean” audit opinion and notation of strong financial health for fiscal year 2020-2021.
Alan Thompson of Thompson, Price, Scott, Adams & Co, P.A., the independent accounting firm that conducted the audit, presented results of the FY20/21 audit to Leland Town Council during its regular meeting on Dec. 16.
The audit includes the following figures of note:
- The year-end General Fund cash balance totaled $14,277,470.
- The total fund balance is 67.48% percent of General Fund Expenditures, which is a sign of strong financial health. This is an increase from 58% for FY19/20.
- Collection percentages for property and motor vehicle tax increased to 99.53%, the highest percentage for the Town to date and an increase from 99.47% from the previous year.
In addition, the audit noted financial statement disclosures as: neutral, consistent, and clear; no disagreements with management; and no difficulties encountered during the audit.
For more information regarding FY20/21 audit results, contact Leland Finance Director Carly Hagg at (910) 338-9735.