Elliott Davis issues unmodified audit opinion; York County shows stronger reserves and no findings
Get AI-powered insights, summaries, and transcripts
Subscribe
Summary
Auditors from Elliott Davis delivered an unmodified opinion on York County’s FY2025 financial statements, reporting increased fund balances, reduced long-term debt and no audit findings; county staff and departing CFO Kevin Madden said the results reflect conservative budgeting and strong controls.
Elliott Davis told the York County Council that it had issued an unmodified opinion on the county’s financial statements for the year ended June 30, 2025, the firm’s auditor, Melissa Dixon, said during the meeting. Dixon said an unmodified opinion is the highest level of assurance an auditor can provide.
Dixon highlighted several financial metrics she described as “really strong.” She reported an unrestricted net position of $132,000,000, up from $95,000,000 the prior year, and said total governmental fund balance was $618,000,000 — an increase of $67,000,000. Revenues and other financing sources of $343,000,000 exceeded expenditures of about $277,000,000, she said. Dixon also noted long-term debt fell about $4,000,000 to $45,000,000 as of June 30, 2025.
On federal compliance work, Dixon said the county’s major program — the Coronavirus State and Local Fiscal Recovery Funds — had been tested and the auditors issued an unmodified opinion with “no findings.” She added the audit timeline slipped because the OMB compliance supplement needed for federal testing was not issued until December.
Kevin Madden, the county official recognized during the meeting and due to depart for a role as chief financial officer of the Rock Hill School District, praised staff and credited collaborative work across departments for the clean audit. “One of the things I’ll brag about when I leave is, during my time, we had no findings,” Madden said.
Dixon and county staff said management is responsible for the financial statements and that the auditor had no disagreements with management. The audit included review of significant accounting policies and the recent GASB guidance on compensated absences, which Dixon said did not have a material impact.
The council received the audit presentation and thanked staff and the audit team; no formal council action beyond receiving the presentation was recorded.