The Mathews County Board of Supervisors heard a glowing report on the county’s financials during its Dec. 20 meeting.
Paul Lee of the accounting firm Robinson Farmer and Cox said that the report once again reflects an “unmodified opinion,” which is the highest rating possible. This has been the case for the past 10 or 15 years, he said.
All of the work was very obtainable, the CPA said, and both county and school staff had been very cooperative. He said he saw no material weaknesses, no significant deficiencies, and that there was compliance with federal regulations.
The county’s fund balance is $4,356,000, said Lee, which puts it somewhere between 15 and 20 percent of the county’s annual budget. He said that the recommended amount is 20 percent, and that if it drops below 15 percent, the county will suddenly find itself having to do short-term borrowing to get by.
Tax collections are at 100 percent, said Lee, which means that “when you assess a levy...