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Oconee County receives clean FY2025 audit; reserves and SPLOST spending highlighted
Summary
Rushton presented a draft FY2025 audit showing an unmodified opinion, a government‑wide net position of about $263M, a general‑fund balance around $13.1M (roughly four months of expenditures), and no internal‑control recommendations; auditors noted $1.8M in federal clean‑water grant spending triggered single‑audit work.
Rushton auditors presented the county’s draft fiscal year 2025 audit at the Dec. 2 meeting and reported an unmodified (clean) opinion.
Justin Burris, Rushton audit manager, told commissioners the county’s government‑wide net position was roughly $263 million, including about $157 million in net investment in capital assets and roughly $66.9 million in unrestricted funds. The general fund showed approximately $46.5 million in revenues (an increase of about $2.1 million from the prior year) and roughly $38.9 million in expenditures (an increase of about $4.3 million). Burris reported the unassigned/assigned general‑fund balance at about $13.1 million, which equates to roughly four months of operating expenditures — within the common 3–6 month target range auditors described as healthy.
Rushton also performed single‑audit procedures because the county had more than $750,000 in federal expenditures; the primary federal program driving that work was a clean‑water grant with roughly $1.8 million in related expenditures. Auditors reported no material weaknesses, no significant deficiencies and no recommendations for internal control in this audit cycle.
Burris reviewed major fund movements — including water and sewer fund revenue and SPLOST/TSPLOST project spending — and walked commissioners through several GASB accounting changes that influenced presentation in the financial statements. He advised commissioners to consult the note disclosures in the full report for additional detail and said the final, complete audit report would be issued after the remaining procedural items were closed.
Commissioners asked for clarifications on unassigned balances and other line items; the auditor pointed them to specific pages in the draft report for supporting detail.
The presentation was informational; no formal board action was taken to accept the final audit at the meeting.
