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Auditor tells school board county finances are healthy as office moves to GAAP and tightens capital-asset records
Summary
County auditor staff reported rising cash and investment balances, said the office will adopt GAAP reporting by June 1 to improve bond positioning, and promised more detail on a $5 million “other” general-fund disbursement and a 2023 balance decline.
The county auditor’s office told the school board that cash and investment balances have trended upward over the past two years and that the office is moving to GAAP reporting to strengthen the county’s position for future bond markets.
Terry Hutchins, the county auditor (speaking as the auditor), explained that Indiana law requires annual financial reports to be submitted via the State Board of Accounts’ Gateway system and said the office is preparing GAAP (Generally Accepted Accounting Principles) statements due June 1. “It helps, put the county in a better position to bond, more…
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