What is the purpose of the audit report?

The audit report provides a summary of the financial position of the Ocean City Housing Authority.

When was the audit report published?

The audit report was published for the fiscal year ending September 30, 2024.

How can I access the full audit report?

The full audit report can typically be requested from the Ocean City Housing Authority.

Public Notice — Ocean City, NJ

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Audit report summary for Ocean City Housing Authority for 2024.

Published: Apr 4, 2026 · 1 month ago
Category: Other
City: Ocean City
Address: Ocean City, NJ

What to do next

1
Review the Audit Report
Read the full audit report to understand the financial status of the authority.
2
Contact the Authority
Reach out to the Ocean City Housing Authority for any questions regarding the report.

3

Attend Public Meetings

Participate in upcoming public meetings to discuss the audit findings and implications.

Frequently asked questions

What is the purpose of the audit report?: The audit report provides a summary of the financial position of the Ocean City Housing Authority.
When was the audit report published?: The audit report was published for the fiscal year ending September 30, 2024.
How can I access the full audit report?: The full audit report can typically be requested from the Ocean City Housing Authority.

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Full Notice Text

Summary or Synopsis of Audit Report for Publication
Summary or Synopsis of 2024 Audit Report of
OCEAN CITY HOUSING AUTHORITY
as Required by N.J.S. 40A:5A-16
STATEMENT OF NET POSITION
SEPTEMBER 30, 2024 and 2023
ASSETS
Current assets
2024 2023
Cash and cash equivalents $ 751,936 $ 759,203
Restricted cash 136,479 1,502,071
Tenant security deposits 64,315 44,976
Accounts receivable - HUD - 134,730
Accounts receivable - other government 39,985 450,624
Accounts receviable - tenant 14,196 43,963
Accounts receivable - miscellaneous - 372
Prepaid expenses 74,834 65,489
Total current assets 1,081,745 3,001,428
Capital assets
Construction-in-progress 2,702,857 5,092,004
Capital assets, net of accumulated depreciation 14,976,685 11,037,135
Total capital assets 17,679,542 16,129,139
Total assets 18,761,287 19,130,567
DEFERRED OUTFLOWS OF RESOURCES
Related to pensions 89,173 8,043
Related to OPEB 672,738 238,114
Total deferred outflows of resources 761,911 246,157
Total a