The Town of Leland has received an unmodified or “clean” audit opinion and notation of strong financial health for fiscal year 2024-2025, which ran from July 1, 2024 through June 30, 2025.
Alan Thompson of Thompson, Price, Scott, Adams & Co, P.A., the independent accounting firm that conducted the audit, presented results of the FY24/25 audit to Leland Town Council during its regular meeting on Dec. 18.
The audit includes the following figures of note:
- The year-end General Fund cash balance totaled $22,118,165, an increase from $21,821,769 last year and the highest cash balance to date.
- The total fund balance is 44.77% of General Fund Expenditures, a decrease from 45.66% last year.
- Collection percentages for property and motor vehicle tax were strong at 99.67%. This is due to the diligence of the Brunswick County Tax Office, which collects taxes and remits to the Town.
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 FY24/25 audit results, contact Leland Finance Director Carly Hagg at (910) 338-9735.