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Saluda County accepts FY2023–24 audit showing $3.1M increase in net position
Summary
Auditor David Inzostiga gave an unmodified opinion on Saluda County’s FY2023–24 financial statements, reporting $36.2M in cash, a $3.1M improvement in net position and a general‑fund revenue total of about $20.0M; the council voted to accept the audit as presented.
Saluda County Council unanimously accepted the FY2023–24 audited financial statements on Jan. 13 after an overview from the county’s audit firm.
"We've issued an unmodified opinion," said David Inzostiga, the auditor with Richeon Inzostiga, explaining that an unmodified opinion means the auditors found no material modifications were required to the financial statements. Inzostiga told the council the county showed a $3.1 million increase in net position for the year, cash of about $36.2 million and consolidated revenues of roughly $20.0 million against expenses of about $18.2 million.
Inzostiga walked members through key statements, explaining that the statement of net position (a consolidated balance sheet for governmental activities) includes capital assets and pension liabilities while fund statements show cash and fund balances by individual funds. He pointed the council to notes and footnotes for additional detail, and highlighted two GEO bond issuances with maturities running from 2025 to 2039.
After a brief opportunity for questions, the council moved, seconded, and accepted the audit as presented by voice vote.
Ending: The audit acceptance was recorded in the minutes; the council did not request further follow‑up reporting at this meeting.
