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Polk County presents condensed first-quarter financial report; software, audit work underway
Summary
County finance consultant presented a condensed Q1 financial report showing a decrease in cash balances driven by bond payments and timing of tax/intergovernmental receipts; county is preparing for the 2024 audit and implementing budget and HR/payroll systems.
Polk County officials received a condensed first-quarter financial report during the county board meeting on June 5, detailing cash balances, revenue/expenditure variances in the general fund and next steps for audit and software implementations.
The report, presented by Annette Storm of Abdo Financial Solutions, said the county’s cash and investment balances showed an $8 million decrease from year-end, largely attributable to bond payments due in February and timing differences in tax and intergovernmental receipts. Storm described the packet as a compact version of the quarterly report and said future quarters will expand to include other major funds such as highway and solid waste.
Storm said revenues tied to…
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