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Yancey County audit: clean opinion but auditors flag low fund balance and expenditures in excess of appropriations
Summary
Auditors issued an unmodified opinion on Yancey County’s FY2025 financial statements but reported concerns including expenditures in excess of appropriations and a low available general fund balance (reported at 2.56% as of June 30, 2025).
At the March 9 meeting the county’s FY2025 audit was presented to the Board of Commissioners. Auditors delivered an unmodified (clean) opinion on the June 30, 2025 financial statements and reported no material weaknesses in internal control or material noncompliance with laws and regulations. The audit presentation also noted areas of concern that the board should monitor.
The audit summary highlighted several indicators of concern, including expenditures in excess of appropriations and a low available general fund balance reported at 2.56% as of June 30, 2025. The presentation summarized select financial statement totals: total assets of about $31 million, total liabilities of about $40.5 million, total revenues of about $82.4 million and total expenditures of about $98.8 million for the fiscal year. Auditors also reported on federal and state single-audit work covering major grant programs.
Finance Officer Brandi Burleson and audit staff presented the slides noting both the clean opinions and those performance indicators. The board received the report; no formal corrective actions were recorded in the minutes but the findings identify areas county officials will need to address as they prepare budgets and manage appropriations.
The audit appendices contain more detailed financial schedules and program-audit information.
