ORANGE PARK — Purvis, Gray and Company presented an annual financial audit of the Town of Orange Park during the town council meeting last Tuesday.

"When we look at the financial results, we'll see the town is in good financial condition," said auditor Ron Whitesides.

The audit determined that the town's assets exceeded liabilities by $69.5 million at the end of the 2023 financial year, a substantially positive net position. The town's favorable net position increased by $650,000 since the end of the 2022 financial year. That was attributed to increased property taxes, sales taxes, charges for services, and other state-shared revenues. From 2022 to 2023:

• Property (ad valorem) tax revenue increased by $386,000
• Red light camera revenue increased by $178,000
• Investment earnings increased by $205,000
• Ambulance revenue increased by $60,000
• Moderate increases from other revenue streams.

Major capital project expenditures during the year included improvements to Bradley and Clarke parks, the Magnolia Cemetery Culverts, Clover Avenue and other streets, septic-to-sewer conversions, and sewer system upgrades. 

Notably, the town has no outstanding debt and hasn't since October 2015. 

"Currently, (33%) of the general fund's annual revenues are from property taxes. The town implemented a utility service tax on electricity, which went into effect on April 1, 2015, and generated $839,000 in revenue in fiscal year 2023. Other current revenues are not expected to increase significantly, and many are beyond the town's control. Continued diversification of revenues where possible could help to alleviate pressure on property tax rates," the audit concluded. 

John Villanueva, Director of Finance, was commended for his team's efforts in preparing the town for the annual audit. Despite his decade of experience, he manages to find a twinge of excitement for every annual "audit season." 

"We spend about two months getting ready for the audit. I have a great finance team. A lot of hard work goes into it, but this is my tenth audit. So, I've gotten the hang of it now," Villanueva said. 

In other news, the council voted 5-0 to adopt its five-year Capital Improvement Plan, funded through sales and gas taxes. According to the Expense Account Summary — which includes, among other line items of interest   — $750,000 provisioned for the Milwaukee Sidewalk project, $15,000 for playground improvements at Gano Park, $200,000 for a boardwalk at Bradley Park, and $10,000 for improvements to the house and $125,000 for improvements to the pond at Clarke House Park.