By Kristen Tribe | Wise County Messenger
Outside auditor Snow Garrett Williams gave Wise County a clean report on its financial audit for fiscal year 2017.
Firm representative Kathy Williams told county commissioners Monday the fund balance at the end of the year was $21.8 million, which included $4.2 million in the general fund, $6.1 million in lateral roads, $5.7 million in capital projects, $2.8 million in debt service and $3.2 million in other governmental funds.
“The unassigned balance at almost $3.9 million was up from the prior year,” she said. “(Auditor) Ann (McCuiston) did some reclassification of funds, and it helped that fund balance come up a little bit.
“It’s about 12.5 percent of your general fund expenditures, and it was 10 percent the year before, so it’s good to start seeing some increase in that.”
The fund balances for each precinct were as follows:
Total county revenues were $44.8 million, while expenditures were $49.1 million.
Property taxes accounted for the largest chunk of revenue at $26.4 million, followed by fees of office at $5.3 million. Sales and other taxes were $3.7 million.
In expenditures, public safety is the largest at $16 million, followed by general government at $6.2 million. Judicial expenditures were $3.8 million.
The county’s net capital assets, which includes land, buildings, improvements, roads, bridges, machinery and equipment, totaled $70.4 million in FY 2017. Major capital asset events during the year included the purchase of an ambulance, vehicles for various departments, a backhoe loader, two tractors, a mower and a wood chipper; completion of the Women’s Building remodel; and improvements to the bridge on County Road 4668.
The county’s outstanding debt was $44.1 million.
View original Wise County Messenger article.