Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Finance Audit topic
No spam. Unsubscribe anytime.
Independent audit finds $12 million surplus; recommends higher fund balance target
Summary
County auditors delivered an unmodified opinion on the ACFR for year ending June 30, 2025, reporting general fund revenues exceeded expenditures by $12 million and the county's unassigned fund balance is about 27%, above the 12.5% policy minimum; auditor suggested a 20–25% target for a county this size.
James Kelly of Robinson Farmer and Cox Associates told the Board the county's Annual Comprehensive Financial Report for the year ended June 30, 2025, received an unmodified (clean) opinion. Kelly reported that revenues exceeded expenditures by $12 million in the general fund and reviewed governmental fund balance sheets and long‑term debt summaries. He said the county’s unassigned fund balance is about 27%, above the policy minimum of 12.5% and recommended a 20–25% target for counties of Shenandoah’s size.
Kelly noted the ACFR is useful when the county seeks loans, and he reviewed tests for compliance his firm performed. No formal board action was recorded on audit acceptance during the transcripted portion of the meeting. The presentation was framed as an informational briefing on financial stability and debt service.
