Robinson Farmer Cox presented Surry County’s fiscal year 2024 Annual Comprehensive Financial Report and issued an unmodified audit opinion, indicating the firm concluded that the county’s financial statements were materially correct.

Jay (partner, Robinson Farmer Cox) told the board the primary government showed roughly $33.2 million in net assets on an accrual basis, about $4.8 million more than the prior year. On a fund-basis (exhibit 3), the county’s fund balance was about $26.85 million at fiscal year-end 2024, down about $1.5 million from the prior year. Unassigned fund balance was approximately $10.7 million, essentially unchanged year over year. Unrestricted cash and investments declined to about $12.5 million from $20.2 million the prior year, while restricted cash and investments rose to about $14.7 million.

The auditor highlighted long-term debt of roughly $22.5 million excluding an actuarial landfill liability; about $1 million of the long-term debt is associated with the school board. The auditor also reviewed water and sewer fund statements and the county’s Schedule of Federal Awards (approximately $4 million received in FY 2024).

Robinson Farmer Cox reported one repeat finding in the financial statement findings related to bank reconciliations. The auditor said certain bank accounts were not reconciled in a timely manner (reconciliations for June 2024 appeared to have been completed in the subsequent months) and recommended all bank accounts be reconciled within 30 days and reviewed by someone outside the reconciliation process to strengthen internal control.

After the presentation, Supervisor Pierce moved “that we approve the report given by Robinson Farmer and Cox Association for fiscal year 2024 annual comprehensive financial report.” A board member seconded the motion on the record. The transcript does not include a roll-call vote or a recorded tally; no formal objections are recorded in the transcript excerpt and the meeting proceeded to the next agenda item.

Board members discussed the timing of receiving the audit materials and acknowledged that the report is typically posted on the county finance web page after presentation. The auditor said he would be available by email for follow-up questions if board members wished to contact him after additional review.

The transcript records the presentation, the motion and a second; it does not record a formal vote count or whether any member abstained.

Clarifying details from the auditor’s presentation are summarized in the county’s packet schedule references (exhibits and schedules cited by page in the presented report).