Audit Report for the Year Ended 12/31/18

The Township of Little Egg Harbor's audit report for the year ended December 31, 2018, provides a review of the township's financial position and compliance with regulatory requirements. The report includes independent auditor's reports on the financial statements and internal controls, as well as detailed financial statements for various funds, including the Current Fund, Trust Fund, General Capital Fund, and Payroll Fund. Supplemental exhibits provide further analysis of financial data, and a letter of comments and recommendations addresses regulatory basis observations. A single audit section covering state financial assistance is included. The independent auditor's report found the financial statements were not prepared in accordance with generally accepted accounting principles (GAAP), but rather the regulatory basis of accounting prescribed by the Division of Local Government Services, Department of Community Affairs, State of New Jersey. However, the audit noted the financial statements did present fairly in all material respects the assets, liabilities, reserves and fund balance - regulatory basis of the various funds of the Township.