Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Budget Finance topic
No spam. Unsubscribe anytime.
County posts positive FY25 audit; fund balance rises and debt falls
Summary
County Administrator Jason Bennett told commissioners the FY25 comprehensive annual financial report shows a $62.8 million fund balance, reduced outstanding debt and stronger-than-expected income-tax receipts; auditors issued no management-letter findings.
County Administrator Jason Bennett presented the county's fiscal year 2025 comprehensive annual financial report and said auditors returned a favorable result after delays tied to peer jurisdictions' audits. "As you guys know, we received a positive report from our auditors last month," Bennett said.
Bennett reported a total fund balance of $62,800,000, outstanding debt of about $39,000,000 (down by just over $2,000,000 from the prior year) and enterprise fund gains, including a $2,700,000 positive variance for water and sewer funds with a net cash position change of $726,000. General-fund audited revenues were $118,200,000 against expenditures of $109,800,000; Bennett said the improvement was largely driven by income-tax receipts that exceeded budget expectations. He also said the single-audit filing had one timing-related finding tied to delayed submissions from another unit and that there were no management-letter comments.
Why this matters: The report, which Bennett said is posted online, signals short-term fiscal stability for the county following flood-related pressures and sets the context for near-term budget choices and bond capacity. Commissioners did not propose changes at the meeting and accepted the report as presented.
