Elsa Watts, Martin Starnes & Associates, presented the audit highlights. Ms. Watts thanked staff and credited Susan Evans, Finance Officer, with being a competent finance officer.
Ms. Watts shared that the annual general fund revenues totaled $204 million, an increase of about 4%. The expenditures totaled $196 million, an increase of about 4%. The fund balance added about $6.6 million up to $91 million. The available fund balance was $75.9 million, an increase of about $7.4 million. The available fund balance as a percent of expenditures for the general fund was 38.6%. The unassigned fund balance was $46.7 million. The unassigned fund balance as a percent of the general fund expenditures was 23.75%.
Ms. Watts said the top 3 revenues for the general fund were property taxes (52%), local option sales tax (23%), restricted intergovernmental revenues (13%), and other revenues (12%).
Ms. Watts said the property tax revenues were $105 million, an increase of 2%. She explained that the local option sales taxes were $46.5 million, an increase of 6% due to increased consumer spending. Restricted intergovernmental revenues, remained comparable at $26.9 million, an increase of about 2%. She mentioned that the top 3 expenditures for the General Fund were public safety (26%), education (28%), human services (18%), and other expenses (28%).
Ms. Watts said education was at $55.4 million, an increase of about 7%. Human services expenditures were $36.1 million, an increase of about 1%. Public safety expenditures were at $50.2 million, which increased by about 8% primarily due to salary increases.
Ms. Watts noted that the landfill fund’s operating income was $669,000. She shared landfill had an investment in capital assets of $9.6 million, an unrestricted net position of $13.8 million, and a total next position of $23.5 million.
She said the quick ratio for the landfill fund was 53. The Local Government Commission (LGC) would be concerned if it was less than one.
Ms. Watts discussed performance indicators for that year. She said the audit was submitted timely with a couple of compliance findings. She explained one of the compliance findings was related to Medicaid where a couple of missing child support referrals and household compositions were incorrect on a couple of cases that were tested. The other was three low-income energy assistance program cases that were missing application signatures.