INTERNAL INFORMATION Anderson & Whitney, PC, audited the National Honey Board financial statements for fiscal year 2024 . The audit was done in accordance with auditing standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States of America . Anderson & Whitney, PC, did not identify any significant deficiencies in internal control over financial reporting for 2024 . REVENUE Assessments Less: Organic Refunds $9,939,070 $974,094 Investment Income $14,000 Other Revenue $2,922 Total Revenue $8,981,898 Total Expenses $7,614,440 Change in Net Assets $1,367,458 Net Assets Beginning of Year $2,116,194 Net Assets End of Year $3,483,652 G+A Operating $581,655 Board Meetings $113,281 USDA $132,910 EXPENSES Research $1,111,642 Marketing $5,674,952 Total Program Expenses $6,786,594 Programs Administration $694,936 USDA $132,910 Total G+A $827,846 USDA 2% Administration 9% $6,786,594 Programs 89% 2024 FINANCIALS 36
