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Lincoln County auditor: general fund healthy with $8 million unassigned; debt service ratio about 3%
Summary
Auditor's finance manager Michelle Burkhart presented Lincoln County's unaudited 2024 financials, citing an unassigned general fund balance of about $8 million, a negative change in net position of roughly $123,885, and a county debt service ratio near 3%.
Michelle Burkhart, finance manager in the Lincoln County auditor's office, presented the county's unaudited 2024 annual report under SDCL 7-10-4, reviewing the statement of activities, fund balances and budget-to-actual comparisons. Burkhart said the county ended 2024 with an unassigned general fund balance of "a little over $8,000,000," equal to about three months of general fund expenditures, and noted a change in net position of negative $123,885 while characterizing the county's overall fiscal position as healthy.
Burkhart walked commissioners through the major reporting funds (general fund, Road & Bridge, Justice Center debt service and capital projects) and called out several one-time items that affected 2024 results, including significant miscellaneous and other financing sources tied to property sales (the highway shop and other land sales) and a grant that increased revenues in a non-major fund. She said Road & Bridge had a final 2024 budget of about $11.5 million and actual expenditures of about $9.2 million, a variance she attributed to grant timing and projects rolling into 2025.
The auditor noted the county's debt obligations totaled just over $59,000,000 and the debt-service payments represented about 3% of total expenditures, which Burkhart described as sustainable. She invited commissioners and residents to access the county's published annual report on the county website and offered to provide more detailed line-item budget documents on request. Commissioners asked about availability of the full GL budget; staff said the official budget listing (adopted budget) and audit reports are posted online and would be made available as requested.
Burkhart said the legislative audit has performed its annual compliance review and that the county is awaiting a finalized audit report and closing conference date. She encouraged commissioners to identify topics for deeper future review and provided contact information for follow-up.
