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Pender County audit: clean opinion, LGC concerns on water/sewer cash ratios and two compliance findings
Summary
County Finance Director Meg Blue and auditors from Martin Starnes & Associates presented the county's FY2024 audited financial statements, reporting an unmodified (clean) opinion while flagging performance indicators and two compliance findings that require a written board response to the Local Government Commission within 60 days.
Pender County Finance Director Meg Blue and auditors from Martin Starnes & Associates presented the county's fiscal year 2024 audited financial statements to the Board of Commissioners on Jan. 21, 2025. Auditor Bao Tao said the firm issued "an unmodified opinion. This is a clean opinion and the best opinion."
The audit showed the county's general fund maintained a sizable fund balance and that the county met several positive performance indicators, including timely audit submission and a stable property tax collection rate. The audit noted the general fund available balance as 50.5% of expenditures for 2024, and the available fund balance reported as $6,190,000 for 2024. The combined water and sewer fund reported declines in unrestricted net position and a cash-to-expense ratio the Local Government Commission (LGC) flagged for review.
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