The audit, overseen by Christine Ran, highlighted several financial changes over the previous fiscal year ending September 30, 2025. The town’s general fund saw an increase in revenue by $897,000, largely due to property tax increases from rising property values. Expenditures rose by $1.85 million, mainly attributed to public safety building renovations and the purchase of a new ambulance following an incident where the previous one caught fire. Additionally, there was a $400,000 increase in general government expenses, primarily due to salaries for new hires and attorney fees. The audit also noted the implementation of GASB 101, affecting how compensated absences are recorded, leading to a $234,000 increase in liability.

Despite these adjustments, the audit concluded that the town’s finances remain healthy, with fully funded pensions setting Indian River Shores apart. The council expressed appreciation for the finance team’s efforts and confirmed no significant alarms in the financials.

In light of the concluded auditor contract, the council discussed forming a new finance committee to comply with state statutes for auditor selection. The committee, which requires one council member as chair and two additional members, will oversee the solicitation and evaluation of bids for a new auditing firm. The process, anticipated to begin in April and extend through July, includes reviewing proposals and making recommendations to the town council.

Additionally, the council is targeting the end of May to receive budget submissions from departments, aligning with the town’s schedule as several council members plan to leave for the summer. The budget discussion aims to set a clear timeline for financial planning and ensure readiness for the upcoming fiscal year.