GAINESVILLE – Hall County is healthy in the area of financial accountability.
That’s the official diagnostic provided in the state mandated audit of the FY2017 operating year.
“I’m here to bring you positive news before the Christmas holiday,” said CPA Beth Grimes, a partner with auditing firm Bates, Carter & Company, as she began her presentation before the Hall County Commission Tuesday afternoon.
“Hall County has gotten the highest level of assurance that you are able to get on an audit, and I would not expect less on an audit of this size,” Grimes told commissioners.
“We look at your external controls and test for weaknesses,” Grimes said of her firm’s forensic analysis of county bookkeeping practices. “I’m proud to say that there were no sufficient deficiencies this year.”
“It’s a very tedious and time consuming process,” said Hall County Financial Services Director Zach Propes of the yearly examination undergone by his department, however, “…an audit is required by the State of Georgia; it’ a necessary endeavor.”
Grimes complimented Hall County on not using as much of their General Fund balance as expected. That is akin to an individual needing to “dip” into their savings account to pay their bills.
The FY2017 budget projected that the county would need to use $2.9-million of the General Fund to meet obligations, but that was not necessary. “This year you had a ‘Use of Fund Balance’ of $320,000. So, you were able to minimize that as much as possible.” As a result the current unspecified General Fund balance sits at $20.8-million. Grimes called that accomplishment “good stewardship”.
Grimes also referred to the benchmark recommended at the Carl Vinson Institute of Government, considered by many as the “gold standard” in government financial planning: providing a ratio of two-times (2X) liquid assets when compared to liabilities. “This trend just seems to be getting better and better…Hall County’s is 3.71. We want to see a high ratio there.”
While not everyone might agree with the way Hall County spends its revenues it appears, according to Grime’s report, that county residents can be confident that where funds are earmarked they are spent.
