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Auditor issues unmodified opinion on FY24 report; commissioners vote to transmit audit to state
Summary
Finance director Mark Barnes presented the fiscal year 2024 audited financial statements, which received an unmodified opinion. The board authorized transmittal of the audit to the state after staff noted three findings — two still open — and highlighted increases in fund balances and capital spending.
Mark Barnes, Effingham County finance director, presented highlights from the fiscal year 2024 audited financial statements at the April 15 meeting. The audit firm issued an unmodified opinion on the county’s financial statements; the board voted to transmit the audit to the state.
Barnes walked commissioners through operating revenues and expenses across major funds, noting revenue increases in the general fund driven by sales tax, title ad valorem tax on vehicles and investment earnings. He said investment income was unusually strong in fiscal 2024 and contributed materially to a roughly $5.6 million increase in general fund balance for the year.
Highlights and context: Barnes noted the county spent about $33 million in capital projects across all funds in FY24 compared with roughly $9 million in 2019. The county implemented a new payroll system in FY24 and the administration building expansion began during the year. He said the self-insurance and sanitation funds had normal operational variations and the water and sewer enterprise funds were reporting a corrected classification of cost recovery fees.
Audit findings and next steps: the audit contained three findings tied to constitutional officers’ funds, two of which remained open and were under active work with those offices. One finding was reported as already resolved. Barnes and commissioners said they expect the outstanding issues to be addressed before next year’s audit.
Board action: following the presentation, commissioners voted to authorize submission of the FY24 annual financial report to the State of Georgia. The vote was taken by voice; the clerk recorded the motion as carried.
Quotes: Barnes said the numbers in the audit “are not any materially different from the numbers that we've gone over before” and reiterated the county’s plan to use more realistic revenue estimates in the FY25 budget for items such as investment earnings and vehicle tax receipts.
Ending: Commissioners asked for more frequent quarterly reporting in future years to provide better interim visibility; staff said they will explore returning to quarterly financial updates and will coordinate with the audit firm about timelines for future audits.
