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Kerr County accepts unmodified audit for fiscal year ending Sept. 30, 2025
Summary
External auditor reported an unmodified opinion on Kerr County's FY2025 audit and the court voted unanimously to accept the financial report; key figures included roughly $39.9M unrestricted cash and 98.5% pension funding under TCDRS.
The Kerr County Commissioner's Court unanimously accepted the county's audited financial statements for the year ending Sept. 30, 2025 during its June 8 meeting after a presentation by Armstrong Vaughn & Associates representative Deborah Fraser.
Fraser said the county received an unmodified (clean) audit opinion. She reported key figures from the full-accrual financial statements: about $39.9 million in unrestricted cash and investments, $15.8 million in restricted cash, and net position details that showed a strong pension-funded status (about 98.5% funded in the county's pension account under TCDRS). On the modified accrual (budgetary) basis, the general fund had approximately $29 million in unrestricted cash and the county recorded a positive net change in fund balance compared with budget expectations.
Fraser also identified an emphasis-of-matter related to the inclusion of the Kerrville airport audit in the county report and noted implementation of GASB 101 for compensated absences; she said the auditor found no material weaknesses, no significant deficiencies and no noncompliance that would affect the financial statements. The court thanked the auditor and voted to accept the report as presented.
Attribution: Figures and the auditor's findings are taken from Deborah Fraser's presentation and the court's recorded unanimous vote to accept the report.
