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FY25 audit flags compliance items; county fund balance falls below 15% target
Summary
Robinson, Farmer & Cox reported three compliance items in Smyth County's FY25 audit (expenditures exceeded appropriations; monitoring Opioid Abatement Authority funds; check issuance controls) and an estimated fund balance drop to 8–11%. Chair Atkins urged meeting the county's 15% minimum fund balance policy.
Robinson, Farmer & Cox accountant Emily Viers presented Smyth County’s FY25 audit findings, telling the Board that testing found three compliance items: expenditures exceeded appropriations; the county must monitor uses of Opioid Abatement Authority funds where it is fiscal agent; and the county should ensure checks are not cut or printed before they are ready for release. Viers also said the county’s overall fund balance fell to an estimated 8–11% of the budget due to debt issuances and decreased local tax revenue.
Chair Charles Atkins urged staff to abide by the county policy to maintain a minimum fund balance equal to 15% of operating expenses. County staff and the Board did not take additional action at the meeting but discussed these items in the context of upcoming budget planning and fiscal oversight.
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