Audit shows Putnam County with "clean" opinion and fund balance above GFOA minimum

Auditors from James Moore & Company presented Putnam County's fiscal year 2024 financial statements and associated reports at the May 13 meeting, giving the county an unmodified — or "clean" — opinion on its financial statements and reporting no findings in required compliance and internal‑control reports.

Bernie McKittrick, director with James Moore & Company, told the board, “we have what's called an unmodified opinion or a clean opinion,” and said additional required reports — including the single audit for federal and state grant expenditures — contained no findings. McKittrick noted the audit set was issued earlier this year after staff and constitutional officers completed procedures more quickly than the prior year.

Key financial points: the county's general fund balance rose by roughly $6–7 million year‑over‑year and stands at about 40.1% of expenditures and transfers out, well above the GFOA recommended minimum of two months (16.7%). The audit also shows roughly $9 million in capital additions to enterprise fund infrastructure during the year. The county continues to record a sizable net pension liability related to the Florida Retirement System; auditors noted the liability is an accounting entry and that the budgetary impact is the required annual contribution.

Commission response: Clerk Matt Reynolds and Commissioners praised staff and auditors for the more timely audit. Reynolds said the reports will be posted to the county website as required by statute. Commissioners said the reserve level gives the county flexibility to respond to emergencies such as hurricanes and thanked the constitutional officers and finance staff for their work.

What happens next: the financial statements and audit reports will be posted on the county website and used in budgeting and planning; commissioners signaled continued attention to maintaining reserves and funding enterprise infrastructure.