Monroe County was lauded by auditor Miller Edwards for the county’s outstanding financial performance in 2019 after the county recorded a positive change in net position of over $1.4 million.
“Overall, I’d say you’re in pretty good shape,” Edwards said.
Edwards of Macon-based Mauldin & Jenkins, told Commissioners on Tuesday, Oct. 6 that Monroe County ended the 2019 year with just over $155 million in assets versus just over $46 million in liabilities. Edwards said the county had about $35 million in cash at the end of 2019 with $18 million of that total in revenue bonds and the remaining $17 million in reserves. Edwards said with the county having a $42 million operational budget in 2019, the $17 million is the equivalent of about five months of cash reserves.
Edwards said the general fund is the “heart and soul” of the Monroe County government. He said there was about $13.5 million in cash in the general fund at year’s end, but about $3 million of that total had been transferred out to subsidize enterprise funds, including landfill and water.
Edwards said Monroe County had a particularly “impressive” year in exceeding its projected general fund budget projections, noting that Monroe County budgeted for just over $30.5 million in revenues but actually took in just under $32.2 million. As for expenses, Monroe County budgeted for just over $27.6 million but actually spent just under $26 million.
“We need to always make sure this general fund is doing the right thing and being in the right position to be able to weather the moments that we go through, Edwards said. “Whether it’s a Hurricane Michael or Covid-19 or an ice storm or whatever it might be, we always have to prepare for the future and prepare for what could happen. And I think this past year you did an excellent job of doing that in the general fund.”
Edwards’ main criticisms of the audit stemmed from material weaknesses found in terms of general accounting matters and a failure to segregate financial duties in a number of county departments, including the Tax Commissioner’s Office, Magistrate Court, Probate Court, Superior Court and the Sheriff’s Office. Edwards noted that there were a lot of audit adjustments made late in the auditing process that made finalizing the audit a “Herculean closeout.” As for the lack of segregation of duties, Edwards said it’s an issue with which all 60 or so of the governments that Mauldin & Jenkins audits struggle.
Edwards noted that the 2019 audit was particularly challenging to complete because of the effects Covid-19 has had on governments and their budgets.
“Every year there seems to be something that gets thrown in front of us that we have to hurdle. This year it’s Covid,” Edwards said. “Every government out there is just being blown away by the accountability issues that come before you when you have to deal with the C.A.R.E.S. (Coronavirus Aid, Relief and Economic Security) Act and all these other things. It’s been a bear.”
All in all though, Edwards said he’s pleased with Monroe County’s financial position.
Edwards said, “You had a very good year in the general fund. . . I’m proud of where we are right now. I don’t have any fears as a citizen here as to how our government is doing. I think we’re doing very good.”
At the conclusion of Edwards’ 15-minute audit presentation, Monroe County Commission Chairman Greg Tapley commended County Manager Jim Hedges and County Finance Officer Lorri Robinson for their management of the county finances. Tapley also chastised the Monroe County Reporter for not running a front page story on Monroe County’s strong 2018 audit results.
Tapley said, “If only it would end up on the front page of the newspaper like it should have last year, but it didn’t. But maybe this year.”
