More Great News!
Congratulations to the Town staff on the submittal of another “on time, clean” independent auditor’s report to the NC Local Government Commission. I am especially pleased to report that the Town’s total net position increased by over 3.8 million dollars with the total combined governmental fund balances (excluding our award winning FEMA project) cumulatively increasing from last year’s already strong financial position by 1.8 million dollars. The General Fund Ratio; which is a prime indicator of the Town’s financial condition stands at 151% – the highest it has ever been! Of the governmental funds, the BPART Fund’s share of this increase was $1,453,131, nearly double the current year’s budgeted appropriated fund balance. The Water/Sewer Proprietary Fund is also in great shape as overall cash and cash equivalents increased by $176,048.
These results prove the Town’s outstanding stewardship, excellent financial position and will go a long way toward meeting the challenges of the future.
Don’t forget the Festival By the Sea is this Saturday and Sunday under the Holden Beach Bridge!
