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Martin County audit shows a clean opinion and a large fund balance; water funds flagged by LGC
Summary
Auditor reported an unmodified opinion on the county’s June 30, 2025 financial statements and highlighted a $3.2 million increase in net position and an unassigned General Fund balance of about $19.5 million (56% of expenditures). The auditor also noted water funds were flagged by the Local Government Commission for liquidity concerns.
Martin County received an unmodified (clean) audit opinion for the fiscal year ending June 30, 2025, the county’s independent auditor reported March 20.
Madonna Stafford of Carr, Riggs & Ingram told the Board of Commissioners the auditors issued an unmodified opinion on the financial statements, while including an emphasis-of-matter paragraph related to two accounting changes: implementation of GASB Statement No. 101 (sick-leave accounting) and revised state guidance on revenue recognition for opioid…
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