Commissioners To Meet Tuesday: Audit Presentation, Public Hearing on Road Names, More

Published Tuesday, November 15, 2016 at 12:47 pm

By Jesse Wood

The Watauga County Board of Commissioners will meet on Tuesday, Nov. 15 at 5:30 p.m. inside the Watauga County Administration Building on King Street. Agenda items include the county’s audit for the fiscal year that ended on June 30, 2016 and a public hearing regarding proposed road names. 

Misty  Watson, CPA, will present the 2015-16 fiscal year audit to the commissioners. The audit states the county’s financial position “remains strong,” and a memo from County Manager Deron Geoque repeats the following financial highlights included in the audit:

  • The total assets of the County exceeded its liabilities at the close of the fiscal year by $126,284,553.
  • The County’s unassigned fund balance for the general fund was $21,607,950 at the end of the year, representing 46.34% of total General Fund expenditures. This is an increase of $3,415,887 in the unassigned fund balance from the previous year.
  • The collection rate for property taxes was 98.76% which was an increase from last year’s 98.37%. The County is still above the statewide average of 97.57% for entities of similar populations in 2015.
  • Outstanding debt principal decreased by $4,117,361. Total outstanding debt principal at June 30, 2016 is $43,156,110. Watauga County’s legal debt limit is $672,414,671, so the County continues to be well below the state limits.
  • Moody’s Investor Services updated their review of the County’s financials and reported the County is in a strong financial position.
  • No material weaknesses were found in our accounting systems or internal controls.

See the entire audit here. 

The commissioners will also hold a public hearing regarding public road names. Nearly 50 roads are up for naming. Check out a previous story about this public hearing here. 

To view the entire agenda, scroll below and click here to see the entire meeting packet. 

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