Clarendon County receives clean audit, small surplus

BY ADRIENNE SARVIS
adrienne@theitem.com
Posted 2/13/18

Clarendon County ended last year with a $140,000 surplus in government funds and received good marks on its audit.

The county's 2017 audit report for basic financial statements was unqualified, which means clean or good, showing $21.2 million in …

This item is available in full to subscribers

Clarendon County receives clean audit, small surplus

Posted

Clarendon County ended last year with a $140,000 surplus in government funds and received good marks on its audit.

The county's 2017 audit report for basic financial statements was unqualified, which means clean or good, showing $21.2 million in revenues and about $21 million in expenditures, with a surplus of $140,000.

However, some areas of the report showed what Clarendon County Financial Director Lyndon Anthony calls "planned deficits." Those areas include the county's capital projects, E-911 fund, fire department and C-Program road projects.

For example, the county had a surplus of about $2.8 million for its C-Program road projects at the end of 2016, which was used in 2017, Anthony said.

Anthony said the plan was always to use that surplus in the following year, 2017, knowing that the 2017 audit report would show a deficit. The council was made aware of those expenditures.

He said a deficit is reflected in the 2017 audit because the C-Program surplus was recorded in 2016. Each of the county's audit reports only shows the revenues and expenditures during that specific year, he said.

And, while the county's assets exceeded its liabilities by $9.2 million by the end of the fiscal year, according to the report, its net position decreased by $2.2 million compared to the previous year.