The Mathews County Board of Supervisors received a glowing report on the county’s financial position during Tuesday’s board meeting.
Paul Lee of Robinson Farmer Cox Associates said that the county received “an unmodified opinion” during the recent audit covering the 2017 fiscal year, which ended on June 30. In addition, he said the report on material weaknesses was clean and that there were no issues with the federal compliance report. There were 10 or fewer adjusting entries suggested in the audit, he said, and they weren’t material.
“It’s really what you’re looking for,” said Lee. “It’s the highest we can claim from our perspective.”
The county’s fund balance is now a little more than 20 percent of the budget, said Lee, “which is really where you want to be year in and year out.” Having a good fund balance helps with the yearly ebb and flow of cash, he said, when the cash is at a low.
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