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Johnson Block issues unmodified opinion on Richland County's 2023 financials; board hears details and Q&A
Summary
Johnson Block presented the 2023 audit to the Richland County Board, reporting an unmodified opinion and highlighting a $9.8 million increase in governmental funds (largely unspent bond proceeds), a $9.86 million general fund balance and $8.1 million in 2023 capital borrowing tied to the radio/tower project.
Johnson Block and Company told the Richland County Board of Supervisors on Tuesday that it issued an unmodified opinion on the county's 2023 financial statements, indicating the auditors believe the statements are free from material misstatement.
"We completed the audit of Richland County for the year ended 12/31/2023 and we issued an unmodified opinion," said Bill Moline of Johnson Block (S12) during a presentation to the board. He said the scope included all governmental and proprietary funds and noted an exit conference with Pine Valley Community Village trustees.
Moline highlighted that governmental funds increased by $9.8 million during 2023, primarily because of unspent bond proceeds in the Capital Projects Fund. He said the general fund increased by about $1.5 million to a total fund balance of $9,863,000, which he characterized as roughly six months of expenditures. Countywide sales tax revenue was reported near $1.6 million for 2023.
The presentation also covered long-term debt. Moline said the county issued $8.1 million in capital project borrowing in 2023 related to the radio and tower project, equipment acquisition and facility maintenance improvements; after scheduled payments the county carried roughly $12 million in outstanding government debt at year-end. "The debt limit for Richland County is $90,000,000," he said, adding the county had about 69% of its debt capacity remaining.
Board members asked about the timing of the audit presentation. "That timing is normal, but the financial statement presentation here is definitely two or three months later than I would have liked," Moline said, attributing some of the delay to scheduling and communication issues. Supervisors requested the full audit notes and supporting documents; Moline agreed to provide the detailed report and figures to board members.
The board also discussed several line-item questions, including where wheel tax and highway budget items appear in the reports and how the Pine Valley Community Village's operating losses are offset by tax levy and federal payments. Moline said Pine Valley reported an operating loss of $968,000 in 2023 that was offset by property tax levy and supplemental federal payments.
The presentation concluded with an agreement to make the full audit communications and notes available to the board for more detailed review.
What happens next: Board members and staff said they will circulate the complete audit packet and follow up on specific questions about highway budget detail and the timing of future presentations.
