County accepts outside auditors fiscal year 2018 report

The Young County Commissioner’s received an outside audit report from Mike Edgin of Edgin, Parkman, Fleming and Fleming, PC during their meeting Tuesday, May 28.

Edgin said the county’s capital lease obligations went down $196,000 from the previous year and most of the obligations should be paid off by 2023.

The auditor added the county ended with a positive $902,848 balance than what they budgeted, primarily from receiving more tax dollars than budgeted for.

“We did have several unfavorable variances as you look through expenditure side,” Edgin said. “Mostly, as they relate to capital outlay and debt services for the capital lease operations.”

The excess of money puts the county’s reserve fund at $6,163,334 or about 5.4 months of operation. According to Edgin, it is recommended to have three to six months in the reserve fund.

He said the county had a few material weaknesses, including a couple of offices having no review and approval process of their bank reconciliation.

Edgin also recommended each department have written policy and procedures in case of an emergency where someone leaves office quickly and someone has to step in.

The commissioners unanimously voted to approve the report.

For the rest of the story, see the Saturday, June 1 edition of The Graham Leader.