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Treasurer presents audit findings and a $10.4 million budget amendment tied to buyout funds
Summary
Treasurer Amy presented the FY25 audit (noting two compliance findings) and proposed budget amendment No. 1, a $10.4 million increase chiefly to record buyout program funds and grant proceeds; the court adopted the amendment in the voting session.
Treasurer Amy (speaker S5) reviewed the county audit for the fiscal year ending June 30, 2025, and answered questions from the court. She said auditors identified two findings: the fourth-quarter report omitted encumbrances (which the treasurer agreed with) and a disagreement over whether Judicial Center bond balances must be reported under GASB 87. Amy said the county followed guidance it received from the Department for Local Government and disagreed with the auditor on that second item.
Amy then presented budget amendment No. 1, an increase of $10,400,000 driven primarily by buyout program funds that will flow through county accounts and a remainder of a PDI grant; she told the court that excluding capital and federal projects the increase is about 1.9% and that reserves rose by $3.8 million to $18.2 million at fiscal year-end. "This is an increase of 10,400,000, bringing our budget to 69.1," Amy said.
Magistrates discussed implications for bonding and collection of delinquent taxes; sheriff and clerk presentations earlier in the meeting had shown the school system receives the largest share of property tax receipts. The court subsequently approved receipt of the audit and adopted the budget amendment during the voting session.
