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King William finance staff explains 'unassigned fund balance' as audit continues; board to review FY26 amendments Nov. 17
Summary
County finance staff told the Board of Supervisors the $2,000,007.54 cash line in fund 180 is not the audited unassigned fund balance and that auditors will reconcile FY25; board will review proposed FY26 budget amendments on Nov. 17 with a public hearing to follow if required.
Interim finance staff briefed the King William County Board of Supervisors on the status of the ongoing audit and the county’s fund-balance accounting, saying the audit team’s reconciliation is needed to determine an official unassigned fund-balance number for FY25.
"Total fund balance is basically your equity," the finance presenter said, and added that unassigned fund balance represents what remains in the general fund after classifications such as restricted, committed and assigned funds are accounted for. The presenter pointed to a cash…
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