Financial Records
The Town of Awendaw is committed to the efficient and effective use of public resources. In an effort to promote financial transparency, the town strives to make its financial records readily accessible to the public in a timely manner. The documents below are intended to provide a comprehensive picture of the town's financial condition on a monthly and annual basis.
- Annual Budget. The town's annual budget is adopted by Town Council prior to the start of each fiscal year. The annual budget is a financial plan that allocates anticipated revenues and expenditures for the upcoming fiscal year. The town operates on a July 1 to June 30 (FY).
- Monthly Financial Statements. The town's monthly financial statements provide a summarized view of the revenues and expenditures for all major funds on a monthly basis. These statements compare budgeted vs. actual figures, as well as monthly and year-to-date amounts for both the current and previous fiscal year.
- Audited Financial Report. At the conclusion of each fiscal year, the town hires an independent firm to conduct an audit and prepare the town's Audited Financial Report. The purpose of the annual audit is to present the town's overall financial position, analyze the results of its previous year's operations, and quantify changes in net assets. The financial statements and supporting schedules included in the audit are prepared in accordance with generally accepted accounting principles (GAAP).
