An annual independent audit is performed on the Town's financial statements for the fiscal year which runs July 1 - June 30.

The North Carolina General Statute 159-34 requires each unit of local government and public authority to have its accounts audited each fiscal year and to submit a copy of the audit report to the Secretary of the Local Government Commission (LGC) as soon as possible after the close of the fiscal year. Audits are performed by an independent auditing and accounting firm. The city's audit reports are due by October 31.