The City of Stuart released results from an audit of their municipal utilities.

According to Roof, Gerdes, Erlbacher, PLC, for the year ending June 30, 2023, receipts totaled $3,987,618, a 60 percent decrease from the previous year. Disbursements for the same time period totaled $7,661,688, a 127 percent increase from the previous year. The significant increase in receipts is primarily due to a decrease in water revenue anticipation project note proceeds, while the increase to disbursements is primarily due to an increase in capital project costs pertaining to the water system.

Relating to the receipt and disbursement of taxpayer funds, there were eight findings reported. The audit firm addresses issues such as a lack of segregation of duties, preparation of financial statements, lack of reconciliation of meter deposits and noncompliance with revenue notes and bonds requirements. All eight findings were repeated from the previous year, and Roof, Gerdes, Erlbacher, PLC provided Stuart Municipal Utilities with recommendations on how to address them.