BY MARK J. CRAWFORD
Telegraph Editor
An infusion of outside funding raised the numbers in Bradford County’s audit for Fiscal Year 2022.
Brandon McKittrick, a CPA with James Moore, delivered the presentation on the audit for the year that ended on Sept. 30, 2022.
The audit found no issues with internal controls and compliance A separate audit over controls and compliance related to the county’s receipt and use of federal funds was equally clean, as were most of the audits for the financial officers.
The sheriff’s audit contained a significant deficiency.
“The significant deficiency had to do with the sheriff’s office relying quite a bit on the external auditors in prior years for yearend wrap-up, adjusting entries, stuff of that nature,” McKittrick said. “Really, from an independence perspective, we’re really supposed to be separate. We can’t be a part of that internal control process.”
The recommendation was for the sheriff’s office to work with at third-party CPA, and McKittrick noted that the sheriff brought in Lora Douglas from DDF CPA group to consult, so the comment will be resolved in the next audit.
The clerk’s office received a recommendation from auditors to be mindful of yearend financial activity to make sure they are reported in the correct time period.
McKittrick presentation also focused on the commission’s general fund balance, which grew from $5.7 million to $12.15 million from the end of Fiscal Year 2021 to 2022. Most of that money, however, is state or federal funding which the county has since assigned to a specific purpose — primarily the expansion of the city of Starke’s water and wastewater lines to a multiuse development on S.R. 16 at the bypass.
The unassigned general fund balance only grew by around $100,000.
Even so, McKittrick used the full amount to calculate how many months of recurring expenditures the fund balance could cover, and it amounted to nearly six months, well beyond the two months two months recommended by the Government Finance Officers Association. That was closer to a quarter of the year in 2021.
Combined, the county’s other governmental funds for FY 2022 ended nearly $400,000 ahead of the prior year at $16.8 million. Although some funds, including the library, fines and forfeitures, and emergency medical services, saw reduced fund balances, none of the individual funds was at a deficit.
Something noted in management’s letter was the county’s increase in net position. The difference between its assets and deferred outflows exceeded its liabilities and deferred inflows by $50.5 million. It was an increase of nearly $7.47 million. Most of that — $37.4 million — represents the county’s capital assets. More than $3.3 million is restricted for other purposes, but $9.8 million is unrestricted — an increase of $8 million over 2021. This was again attributable to grant proceeds.
The county also noted revenues exceeded expenditures from governmental funds by $6.8 million. In addition to federal grant funds, there was a nearly $2 million tax increase.
This was the firm’s first year auditing the county’s financial statements, and McKittrick thanked the board for the opportunity as well as the constitutional officers and their staff members for assisting.
Because James Moore was not engaged until December of last year, the audit for FY 2022 did not get started until April of this year. McKittrick expressed confidence the county would not miss the June 30 deadline again.
