Published on January 16, 2024
Cabarrus County continues to operate on sound financial standing, according to findings from the 2023 Annual Comprehensive Financial Report (ACFR), or audit.
The ACFR reports the County’s financial position and results of operation in several sections, including an introduction, basic financial statements, financial and statistical sections and compliance.
During commissioners’ January 2 Work Session, the board heard highlights of the Fiscal Year 2023 (FY23) ACFR from Matt Braswell, a senior auditor with Martin Starnes and Associates, and Finance Director Jim Howden.
According to Braswell, audit highlights included an issued unmodified opinion on the financial statements, no financial statement findings, no single audit findings and no state or federal award findings that needed to be reported. That means the county remained on a strong financial footing.
Following Braswell’s report, Howden shared budget highlights from FY23, which ended June 30, 2023.
During that year, the County’s general fund budget totaled $359 million. The county had revenue of $347.4 million and expenditures of $326.4 million, which added $21 million to the general fund balance.
At the end of FY23, the general fund balance total was $199 million.
“I think department heads and senior management are really looking at trying to get the best bang for our buck,” Howden told commissioners during the meeting.
For 38 consecutive years, the finance department has received the Certificate of Achievement for Excellence in Financial Reporting from the Government Finance Officers Association (GFOA).
The award is the highest form of recognition in governmental accounting and financial reporting and is considered a significant accomplishment by the County and its management.
Also, during the January Work Session, commissioners:
Participated in a discussion with County Staff on a proposed project to revamp the alley outside the Concord library. The goal is to provide an inviting and safe passage from the parking deck into the library. The discussion included better lighting, landscape opportunities, drafting ordinance proposals for public use and more. County staff will discuss possibilities and return to the board with recommendations. Heard from Assistant County Manager Kelly Sifford and General Counsel Evan Lee on a proposed nuisance ordinance related to people illegally occupying certain types of dilapidated housing that may also have elements of salvage material storage or waste collection. County staff are receiving complaints about the growing problem, according to Sifford. Lee said the goal is to create a process “for sites that may or may not be under building code standards to be able to deem them unsafe and potentially abated.” The ordinance would apply to the unincorporated portions of the county. Commissioners are expected to vote on the ordinance at the General Meeting.
To watch the full January 2 Work Session, visit youtube.com/cabarruscounty.
The Regular Meeting is set for 6:30 p.m. on Monday (January 16) at the Cabarrus County Government Center in downtown Concord.
Residents can watch commissioner meetings on the Cabarrus County livestream at cabarruscounty.us, on YouTube (@CabarrusCounty) and on CabCo TV (Spectrum Cable Channel 22).
Stay updated on these and all County programs and projects by visiting cabarruscounty.us and following Cabarrus County at facebook.com/cabarruscounty and on Twitter and Instagram @CabarrusCounty.