Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Finance topic
No spam. Unsubscribe anytime.
Board accepts FY25 audit; county auditor issues clean opinion
Summary
Prince Edward County's external auditor reported a clean (unmodified) opinion on the FY25 financial statements, noting an increase in governmental fund balances; the Board voted to accept the audit.
The Board of Supervisors accepted the county's fiscal‑year 2025 audit after a brief presentation by Josh Roller, the external auditor. Roller told the board that auditors issued an "unmodified or a clean opinion for the county this year," and that there were no disagreements with management or matters of federal noncompliance following tests of school nutrition and ESSER programs.
Roller highlighted that total governmental fund balances at year‑end (June 30, 2025) were approximately $45,000,000, with a general fund balance of about $36,000,000 and a net increase in governmental fund balances of roughly $7.1 million for the year. He also noted implementation of new GASB guidance affecting how compensated absences are calculated for entity‑wide statements, a technical accounting change that did not affect the fund statements presented to the board.
Board members thanked county finance staff for progress in accounting and internal controls; the board then moved to accept and file the audit.
