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Controller reports revenue uptick but audit finds accounting issue under GASB 84
Summary
County Controller Paul Compo reported revenue increases compared with last year but also higher expenses; auditors required a Corrective Action Plan after reclassifying a bond-payment fund under GASB 84 that produced a $495,745 deficit versus the county's internal view.
County Controller Paul Compo briefed the board on budget performance and operational items, saying revenue is up compared with last year while expenses have increased in several areas. He told the board the CT scanner room is nearing completion, computer upgrades will start April 14, and planned construction at Sawmill Lofts will require shutting off the building water next Monday for up to six-plus hours; porta johns and bottled water will be provided.
Compo said the audit is complete and "the Corrective Action Plan has been filed with the State" after auditors reclassified a sub‑general fund under GASB 84 for bond payments. That reconciliation produced a $495,745 deficit when auditors aligned the bond-payment fund with court budget entries, although the county's internal report had shown a $14,446 positive balance. The board authorized payment of claims across funds at the meeting (General Fund total recorded as $665,658.44).
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