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FY25 audit flags three compliance items and shows lower fund balance; board urged to meet 15% minimum
Summary
External auditors reported three compliance issues — expenditures exceeding appropriations, monitoring of Opioid Abatement Authority funds, and checks being prepared before release — and an overall fund balance at 8–11%, below the 15% policy the Board encourages.
Robinson, Farmer & Cox presented Smyth County’s FY25 audit at the Jan. 22 Board meeting and identified compliance concerns the firm said the county should correct.
Accountant Emily Viers told the Board the audit revealed three compliance items: (1) expenditures exceeded appropriations, (2) the County needs to monitor all uses of Opioid Abatement Authority funding for which the County serves as fiscal agent, and (3) the County should ensure checks are not cut or printed before they are ready to be released. Viers also said the county’s overall fund balance dropped because of debt issuances and a decline in local tax revenue tied to reduced local spending, resulting in an overall fund balance of roughly "8–11% of the County’s overall budget."
Chair Charles Atkins encouraged County staff to adhere to the policy calling for a minimum fund balance equal to 15% of operating expenses. The auditor’s findings prompted questions from supervisors; no specific corrective action was voted at the meeting, but staff were urged to follow audit recommendations and monitor restricted funds closely.
