The county’s debt decreased from $82.7 million to $80.1 million, reflecting normal debt payments, she said.
Total assets — on a governmental basis, not including capital assets — were noted as $27.8 million, with 87 percent of that in cash and investments,
Total liabilities totaled $3.7 million, so the total fund balance — the difference between assets and liabilities — came to $24 million.
Of that, $6.4 million was in the general fund, $3.9 million in the lateral road fund, $8.9 million in capital projects, and $1.8 million in debt service.
Total governmental revenues were $59.2 million, with $37.2 million from property taxes, $9.4 million from fees of office and $6.7 million from sales taxes.
Total governmental expenditures totaled $70.6 million, with $16.7 million due to capital outlays, $15.5 million for law enforcement, $11.3 million for judicial and $9.6 million for roads and bridges.
After accounting for another $540,000 from other financing sources, the net change in fund balance was a $10.9 million decrease, which Williams attributed mainly to the capital projects fund.
“As I have explained to you in previous years, that money all comes in on a governmental basis in one year, and it takes several years to spend that money,” she said. “That’s what you’re seeing, the spending down of that capital projects fund.”
Williams noted the $4.1 million positive change in the general fund balance, related to revenues increasing and expenditures decreasing from the prior year.
“What happened in having that increase in fund balance is your general unassigned fund balance is now at 19 percent, or 67 days of your general fund expenditures, and that’s compared to 6 percent the previous year, or 20 days.
“So that’s the first time we’ve seen that kind of increase in a long time. That’s a very good financial trend — to save some money and have those funds available.”
Williams also noted a $435,000 increase in the lateral road fund balance.
The audit reported the individual fund balances for each precinct, showing Precinct No. 1 with a balance of $1 million; Precinct No. 2 with a balance of $1.1 million; Precinct No. 3 with a balance of $872,000 and Precinct No. 4 with a $1 million balance.