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Auditors issue unmodified opinion on Northampton County—s 2025 financial statements; debt and pension assumptions highlighted
Summary
Lead engagement partner Jen Kruegerkeby told the finance committee July 15 that auditors issued an unmodified opinion on Northampton County's 2025 financial statements, noted a $9.9 million decrease in net position, a $15.4 million increase in long-term debt and that single-audit testing of federal programs continues through Sept. 30.
The Northampton County finance committee received a high-level presentation of the county—s 2025 audit on July 15, when lead engagement partner Jen Kruegerkeby told the committee auditors issued an unmodified opinion on the general-purpose financial statements and the annual comprehensive financial report.
Kruge rkeby said the auditors found the county—s financial statements "materially accurate in accordance with" generally accepted accounting principles. She described several key figures: total governmental net position decreased by about $9.9 million to $164 million; total long-term debt increased by $15.4 million in 2025 with outstanding debt reported at $93.7 million; government revenue rose about 6% while governmental expenses rose about 4.9%; and the general fund recorded a net loss year over year. She said the county—s unassigned general-fund balance grew and that much of the county—s revenue mix consists of grants and capital contributions.
Kruge rkeby also discussed accounting estimates that affect pension and other post-employment benefit (OPEB) liabilities, noting those are actuarial judgments reflected in the statements. She said the auditors performed required procedures for single-audit testing and are currently testing five federal programs for compliance; that single-audit work is expected to conclude by Sept. 30.
Committee members asked about the year-over-year debt increase. The auditor explained that the current-year increase reflected a new debt issuance to fund planned capital projects and to repay prior debt; a committee member referenced a previous council bond issue for a parking deck. The auditor said total outstanding debt remains well below the county—s legal debt limit (reported as about 5.67% of capacity).
Why it matters: the clean audit opinion affirms the county—s financial statements for use in budgeting, bond markets and public reporting, but the presentation also drew attention to rising long-term liabilities and actuarial assumptions that affect future budgets.
The auditor—s slides and the annual comprehensive financial report include detailed schedules and required supplementary information for officials to review; the finance committee did not take a formal vote during the presentation. The single-audit report for federal expenditures will be issued later this year.
