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Johnston County auditors issue unmodified report; commissioners accept FY2025 audit
Summary
County auditors from Thompson Price gave Johnston County an unmodified opinion for the year ending June 30, 2025, highlighting strong fund balances and high tax collection rates; the Board of Commissioners voted to accept the audit and noted a few technical recommendations.
Johnston County commissioners voted Feb. 16 to accept the county's annual audit for the fiscal year ending June 30, 2025, after a presentation by Alan Thompson of audit firm Thompson Price.
Thompson told the board his firm issued an unmodified opinion, saying the audit showed the county's financial statements were neutral, consistent and clear. He highlighted several key figures in the report, including a general fund balance in the hundreds of millions, a high property tax collection rate (about 99.9 percent), cash and investment balances, and total fixed assets and accumulated depreciation. Thompson also noted total governmental and business-type activity debt and explained the effect of recent accounting standards on reported balances (for example, changes in accounting for compensated absences and certain subscription-based technology arrangements).
Thompson recommended that staff reconcile balance sheet accounts to subsidiary reports and flagged a small number of technical items and budget amendments tied to new standards; he said there were no uncorrected misstatements and no disagreements with management.
After questions from commissioners about the group-weighted comparisons used in benchmarking and other clarifications, the board moved to accept the audit as presented. The motion carried by voice vote.
The acceptance of the audit concludes the formal review of the FY2025 financial statements; Thompson said he is available to answer further questions as the board or staff review the full report.
