Miller Edwards, an Auditor with the firm Mauldin and Jenkins, presented the findings of the County’s Fiscal Year 2021 audit at Tuesday’s regularly scheduled meeting of the Board of the Commissioners. The verdict was overwhelmingly positive.
“When you look at the dynamics of what we’ve just come through … 2020 and 2021 were very tough years across this country, this globe, this area,” said Edwards. “And you all weathered the storm very nicely.”
In fact, Henry County operated at a surplus of $77 million in the previous fiscal year. The government now holds $1.6 billion in assets. Roughly $1 billion of that is the value of existing infrastructure such as facilities and capital assets. While it holds a comparatively small $482 million in liabilities. The largest portion of that is made of outstanding revenue bonds held by the water authority followed by pension and health insurance liabilities to municipal employees.
In reviewing the numbers, Edwards declared them to be “remarkable,” before speaking to what the strength of the County’s position might mean amid any future economic uncertainty.
“We keep hearing about recession,” Edwards said. “You’re in a good place to weather such storms …You’ve got the capacity and financial strength to do just about anything you need to do. And that’s a great place to be.”
The review was deemed a “clean audit,” meaning all documentation was in order. And for the 18th straight year, Henry County was awarded the Certificate of Achievement for Excellence in Financial Reporting by the Government Finance Officers Association.
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