Get AI Briefings, Transcripts & Alerts on Local & National Government Meetings — Forever.
Audit: Cabarrus County receives clean opinion; fund balance and reserves increased
Loading...
Summary
Martin Starnes & Associates issued an unmodified opinion on Cabarrus County's FY2025 financial statements and reported a roughly $68 million increase in total fund balance to about $304 million and an unassigned fund balance near $97.6 million, supporting roughly three months of reserves.
Martin Starnes & Associates presented the county's 2025 audit and issued an unmodified (clean) opinion, indicating the financial statements were materially correct in accordance with GAAP. Senior manager Matt Braswell described the audit as a snapshot as of June 30, 2025, and said the firm found no material weaknesses, significant deficiencies, or findings requiring corrective action.
Braswell summarized revenue and expenditure changes: revenues increased year‑over‑year and expenditures rose driven by school funding, public safety and human services. He said total fund balance rose by roughly $68 million to about $304 million and that the unassigned fund balance is roughly $97.6 million — equivalent to roughly three months of expenditures at current rates. Braswell noted a modest decrease in the collection rate and that increases in property valuations were a key revenue driver.
The auditor invited commissioners to follow up with him or county manager Kelly Sifford for detail reviews. Commissioners asked no substantive questions during the presentation; the board moved on to subsequent agenda items.
