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Posted Wednesday, February 12, 2014
Pittsboro, NC - Chatham County’s financial audit report for fiscal year 2013 stands out as “the most positive among the 20 or so audit presentations that I have made this year,” according to Shane Fox from Martin Starnes & Associates. He made his presentation to county commissioners on Jan. 21, 2014.
Fox said that the audit firm again received superb support and detailed information from the county’s Finance Office, including Finance Officer Vicki McConnell. “We know that we can count on this every year and that is not true with most clients,” Fox said.
The audit found no internal weaknesses or special findings that need to be addressed. However, Fox said that several items stood out as uniquely positive.
Chatham County’s sales tax revenue increased by more than 4%
While many counties saw no growth or even declines in sales tax revenue for FY 2013, Chatham County’s increased by more than four percent. McConnell clarified that this does not yet reflect the positive impact of sales at the new Walmart, which will show up in the FY 2014 audit.
The audit report shows that Chatham's fund balance remains healthy and continues to be well above the state's minimum requirement for fund balance.
“Chatham County’s finances are in impeccable shape, without question,” Fox said.
The entire audit report can be found on the county’s website at www.chathamnc.org under the Departments & Programs and select Finance. The audits are found under Financial Reports.
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