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Eaton Company delivers unmodified audit; Uvalde County sees fund balance decline to about 51 days
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Summary
Eaton Company presented an unmodified audit opinion for the year ending Sept. 30, 2025, noting $54 million in total assets (driven by capital-project cash), a pension-liability swing to an asset, and a decline in general-fund days of reserve to roughly 51 days, prompting discussion of revenue and expense strategies.
Eaton Company auditor Eric Egan presented Uvalde County's audited financial statements for the year ended Sept. 30, 2025, telling the Commissioner's Court the county received an unmodified (clean) opinion and a management discussion and analysis that shows total assets rose materially, largely because of cash held for capital projects.
"You received an unmodified opinion again this year," Egan told the court, describing implementation of a new GASB statement that required booking a portion of sick-pay liabilities and increased compensated-absence liability by about $50,000. Egan highlighted that total assets rose to about $54,000,000 from about $44,000,000 the prior year, driven in part by roughly $10 million in capital-project cash associated with bond proceeds.
Egan also said the county experienced a favorable swing in its pension position: "We went from a pension liability to a pension asset this year," a near $1.3 million change tied to pension-fund performance. The auditor noted the county's general-fund balance declined over several years to the equivalent of roughly 51 days of reserves, down from about 75 and 95 days in earlier years, and recommended the court be mindful of the downward trend.
On near-term budgeting, Egan told the court the options are clear: increase revenues, decrease expenses or both. He noted the county's revenue increase in the year was largely the result of a $4.4 million capital grant tied to a resilience-center project, and that several nonmajor funds show negative fund balances due to timing of reimbursements.
Egan closed by calling attention to the management letter recommendation to address a significant number of old outstanding checks that the treasurer should attempt to reissue or remit to the state, and by thanking county staff and auditors for assistance during the fieldwork.
