Audit: County rebounding from recession

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By Jamison Hooks staff writer

There were no surprises for the Morgan County Board of Commissioners (BOC) as they reviewed their 2014 Audit, which was presented by Bates and Carter CPA Beth Grimes. “The audit went as expected and the County received a clean audit report with no compliance findings or significant deficiencies,” said Finance Director Lori Sayer. “We had initially anticipated a $1.4 million use of fund balance but ended up using only $962,000. The use of fund balance has been the trend for the past several years because of a 36 percent decrease in the gross tax digest since 2009.” Keeping within recommendations of the Government Finance Officers Association, the fund balance should be in 15- 25 percent of general fund revenues. “We are currently at 19.81 percent which is within the recommended range but on the low end. We did not budget any use of fund balance for FY 2015 so hopefully we can begin the process of building back some of our reserves,” said Sayer. The Audit for the year ended June 30, 2014 also gave Commissioners an update on Morgan County’s expenditures and revenues. The presentation showed that public safety accounts for 24 percent of Morgan County’s expenditures. “As far as expenditures go, for most governments in Georgia the largest chunk is public safety,” said Grimes. Furthermore, property tax accounts for 37 percent of Morgan County’s revenues and 33 percent of revenues are generated from sales tax.

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