County auditor corrects presentation error, says unassigned fund balance is 38.05%

An outside auditor told the Nash County Board of Commissioners on May 18 that a formula error in the county’s presentation—not the audit itself—caused the unassigned fund‑balance percentage to be reported too low.

Alan Thompson of Thompson Price Scott Adams and Company told the board he had double‑counted a stabilization amount in the presentation spreadsheet, which reduced the percentage shown in the slide deck. On the actual audit (page 19), Mr. Thompson said the unassigned fund balance for fiscal 2025 is 38.05% of the general fund—"the largest it's been in any of the five years shown"—and apologized for the presentation error.

Commissioners asked follow‑up questions about how the county’s fund balance compares with other counties and why the balance grew by roughly $11 million in one year. Mr. Thompson said some of the increase reflected vacancy savings (positions not filled) and that the tax office had provided revenue estimates that proved conservative. He offered to send a spreadsheet comparing unassigned fund balances across peer counties and pointed the board to a group average included in the presentation materials.

Why it matters: Fund balance levels are a key fiscal signal used by the Local Government Commission and by elected officials to judge resilience and tax policy. A higher unassigned fund balance can mean more one‑time capacity for capital projects or can alter the county’s policy choices during budget deliberations. Several commissioners asked staff to supply a county‑by‑county comparison so the board can put Nash County’s position in context.

The auditor said the Local Government Commission will calculate its own percentage and that the audit itself needs no revision. The board did not take formal action on the correction beyond asking staff to circulate comparison data and to note the correction in public materials.