Burke County audit shows $205.6 million net position, one repeat finding in sheriff’s office

Burke County commissioners heard an external auditor’s presentation of the fiscal year 2024 financial statements and a single repeat finding at their public meeting.

The county’s audited financial statements show a total net position of $205,635,000 as of Sept. 30, 2024, an increase of about $31.6 million (roughly 18%) from the prior year, the auditor reported. The county’s cash and investments were approximately $130,000,000 and capital assets, net of depreciation, were about $92.5 million.

The auditor, identified in meeting remarks as Bill Deal of the county’s audit firm, told commissioners the firm issued an unmodified opinion on the financial statements and pointed to the management’s discussion and analysis for a narrative summary. “If you read through that, that gives you a really good summary of the financial condition,” he said.

The audit breaks out government-wide and fund-level results. The general fund showed total assets of about $106.9 million and a general fund balance of $59.6 million, an increase of roughly $12.3 million (about 26%). The auditor said general-fund revenues were $52.6 million and that interest income increased as rates rose, producing about $5 million in interest revenue for the year.

Among enterprise funds, the county recorded activity for solid waste, transit and a newly created broadband utility. The auditor said the broadband fund had construction-in-progress of about $3 million and noted transfers into enterprise funds, including a $4,348,000 transfer from the general fund into the broadband fund and a $2,872,000 capital grant from the Board of Education to that fund.

The only audit finding listed in the report was a repeat finding for the sheriff’s department, described as a lack of internal controls over expenditures and budgetary controls. The auditor said some new budgetary controls had been implemented since year-end.

County staff and commissioners asked follow-up questions about the finding and other departmental performance. The auditor confirmed that, aside from the sheriff’s department matter, he did not recall other departmental findings in the report. Commissioners and staff praised the finance staff’s performance and the county’s overall fiscal position.

The audit packet also included the single-audit reports because the county had more than $750,000 in federal funds; the ARPA program was the major federal program subject to single audit procedures. Notes to the financial statements and required supplementary schedules are included in the audit book provided to commissioners.