An independent, outside audit of Greene County showed positive results from 2017. Andrew Marmouget, CPA and shareholder with KPM, shared the audit’s results during a public meeting Monday at the Greene County Public Safety Center.
Some of the findings: The county’s total assets were just over $337 million as of December 31st—up $8 million from a year ago. The county's overall net position (assets minus liabilities) was $289 million, up $3.8 million from 2016. The net position, according to Marmouget, is one factor that determines whether a county's financial condition is improving or not.
"The net position is up, and when it goes up that means that the financial condition of the county is improving," he said, "so, that is what you want to see."
The county saw a slight increase in the overall tax levy and an increase in assessed valuation, according to Marmouget. He said an increase in assessed valuation indicates a government's financial condition is improving.
Tax revenues were up six percent from 2016 which is “a very good increase," Marmouget said. "We are seeing increases in most of the governments that we've gone to this year, but it's been around three, four percent, so a six percent increase is actually a little bit higher than what we're seeing, so that's very good news for the county."
He said the auditing firm did not note any noncompliance with any laws, regulations, contracts or grants. KPM gave Greene County an unmodified or clean opinion, which is the best an organization can receive on its financial statements.
Greene County Presiding Commissioner Bob Cirtin was pleased with the audit results.
"I want this to sink in," he said. "This is an unmodified, clean audit, which means perfect."
He pointed out it’s the third year in a row the county has received an unmodified or clean opinion, and he gave credit to department directors and officeholders.