Fannin County receives unmodified FY2024 audit; unrestricted fund balance equals about 15 months of spending

At its July 8 meeting, the Fannin County Board of Commissioners heard a presentation of the county’s fiscal year 2024 audited financial statements from Justin Burris of Rushton LLC, who said the firm issued an unmodified — or clean — opinion on the financial statements. Burris told commissioners the county’s unrestricted general fund balance rose to about $38.6 million at year-end, up from roughly $32.4 million the year before, and that the balance equated to approximately 15 months of typical operating expenditures.

Burris said the audit showed revenues increased by about $4.1 million year over year, driven largely by intergovernmental revenue including a USDA grant he identified as contributing roughly $2.1 million; higher interest income; an increase in local option sales tax of about $178,000; and a property tax increase of about $137,000. He…