Fisher County audit returns clean opinion; net position rises about $1.9 million

Carrie Hillbrick, the independent auditor who conducted Fisher County's 2023-24 audit, told commissioners the financial statements "present fairly in all material respects" for the year ended Sept. 30, 2024, delivering a clean opinion.

Hillbrick pointed to a roughly $1.9 million increase in the county's net position from the prior year, saying the largest contributor was investment income. "The biggest increase on that was the investment income that came in," she said. She also noted that total revenues finished about $480,000 over budget while expenses were about $680,000 below budget, producing an approximate $1,000,000 favorable variance.

Hillbrick reviewed changes required under new accounting guidance and the audit's scope. She said the only new pronouncement affecting the county this year was GASB 96, which treats subscription-based IT contracts as both an asset and a liability; in Fisher County's case that applies to a five-year LGS system agreement. Hillbrick emphasized the GASB change affects presentation on the balance sheet rather than cash flows.

She thanked county staff for cooperation during the audit and reported only routine journal entries, many of which were reclassifications. Commissioners were offered the chance to review the audit report in detail.

The auditor's report and the accompanying schedules will be available for commissioners to review; no further formal action on the audit was recorded in the meeting.