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County auditor issues clean opinion on FY24; general fund balance rises to about $17.5 million
Summary
Auditors gave Fairfield County an unmodified opinion on its fiscal year 2024 financial statements, reporting a $1.4 million increase in the general fund balance and noting one recurring internal-control finding related to year-end adjustments.
Fairfield County officials received a clean (unmodified) opinion on the countys fiscal year 2024 financial statements and an overview of the countys fiscal position during the April 14 County Council meeting.
Grant Davis, a partner at the auditing firm Malden & Jenkins, told the council the general fund reported total assets of about $20 million at June 30, 2024, including roughly $7.8 million in cash and cash equivalents and about $10.8 million in receivables. Liabilities were roughly $2 million, producing a general fund balance of about $17.5 million, an increase of approximately $1.4 million from 2023. Davis said the unassigned portion of fund balance equates to about five and a half months of expenditures at the years spending level.
Davis said the general fund spent about $35.7…
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