Auditor Mike Bradford reported to the Vance County Board of Commissioners during its regular Monday evening meeting that the county had received an “unqualified” audit, the best audit report that can be received.
Bradford reminded the board that health insurance benefits for retirees must be listed as liabilities for the county beginning in 2009.
“It will be fairly large number,” Bradford said.
As for errors found by the audit, Bradford said there were errors on Social Services “day sheets” and a DSS form 1571.
The accountant noted that the county took in more money than was budgeted and spend $1.7 million less than budgeted. He also acknowledged that property tax collection rates had increased from the 2005-2006 fiscal year.
Bradford also told commissioners that the county has $14.9 million in its fund balance, $10.3 million of which is unrestricted.
“The county’s in great shape,” Bradford said.
Commissioner Dan Brummitt asked if the lack of an audit committee was a deficiency. Bradford responded that it was not a deficiency, but rather something recommended by the state’s Local Government Commission.
The Board voted unanimously to accept the report.