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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