Hanover posts FY25 operating surplus; auditors issue clean opinion
Finance staff reported FY25 general fund revenues of $395.2 million and an operating balance of about $41.4 million; external auditors from PB Mares issued an unmodified (clean) opinion and noted implementation of new GASB measurement guidance.
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Finance Director Lauren Dahl presented Hanover County's fiscal year 2025 Annual Comprehensive Financial Report to the Board and summarized key results: total general fund revenues of $395.2 million (about 6% higher than budget) and expenditures and transfers totaling $377.3 million. The presentation noted an operating balance of approximately $41.4 million, with planned use in the FY26 county and school budgets and the five-year capital plan.
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