By Tia Lynn Ivey
The Morgan County Board of Commissioners (BOC) received good financial news last Tuesday. Beth Grimes, of Bates and Carter, presented the results of the county’s audit, closing out the 2016 fiscal year, which ended June 30, 2016.
“I do have good news this year, the county is doing better than last year. We are really seeing signs of improvement,” said Grimes to the BOC.
According to Grimes, the county ended the 2016 fiscal year with a $600,000 surplus. The year before last, the county ended the fiscal year with a $145,000 loss.
“This is really refreshing to see such a surplus, after weathering the storms in previous years,” commended Grimes. “You have done a great job in managing the resources you have.”
According to Grimes, the surplus is the result of revenue from a property sale and increased property taxes.
Grimes also noted that the county is “right on track” with the general fund. “The fund balance is right at 20 percent of the annual expenditures, which is right on target with the recommended levels.”