FROM STAFF REPORTS
Martin Starnes & Associates has presented the Iredell County Board of Commissioners with a clean audit for the fiscal year ending June 30, 2023.
Cassie Wilson, a representative of Martin Starnes, discussed the findings of the audit during Tuesday’s board meeting. She described the county’s financial position as “very healthy.”
The county ended the fiscal year with $139.7 million in its fund balance, an increase of $28.2 million from the previous year. The fund balance represents 57 percent of the annual budget.
More than $104 million in the fund balance is unassigned.
County revenues for all sources increased to $280 million in fiscal year 2022-2023, up from $256 million the previous year. Property taxes account for 56 percent of the county’s revenues.
Education funding is the county’s largest expense with 36 percent of the general fund being earmarked for Iredell-Statesville Schools, the Mooresville Graded School District and Mitchell Community College. When debt service on capital projects is included, education spending accounts for 48 percent of the budget.
Public safety (23 percent) and human services (15 percent) also account for a large percentage of the budget.
WIlson expressed her gratitude for the county Finance Department’s assistance during the audit.
County Manager Beth Mull also praised the staff.
“Our financial team I would put up against any financial team in the state or country,” she said. “They do amazing work.”
WSIC radio host honored
The Board of Commissioners honored Pat Shannon, who is retiring after a 60-year career in local radio.
“You have meant so much to so many people in this community,” Commissioner Brad Stroud said.
In other business, commissioners:
♦ Approved a request from the Sheriff’s Office for approval of a Budget Amendment to appropriate Economic Development Reserve Directed Grant funds in the amount of $200,000 for underwater evidence recovery units.
♦ Approved a request from the Fire Tax Oversight Committee for approval of a Budget Amendment to appropriate $71,572 of fund balance to West Iredell Fire Department from the Countywide Fire Service District to cover apparatus repairs.
♦ Approved a request from Emergency Management for approval to apply for the Local Emergency Planning Committee (LEPC) Tier 2 hazardous materials grant up to $10,000 to support the mission of the LEPC.
♦ Approved a request from Emergency Management for approval to apply for the Hazardous Materials Emergency Program grant to conduct an multi-jurisdictional exercise with local hazmat teams.
♦ Approved a request from Emergency Management for approval to apply for the Emergency Management Performance Grant in the amount of $54,041.06 for general support of the County’s Emergency Management program.
♦ Approved a request from the Health Department for approval of a Budget Amendment to allocate $19,801 in Medicaid Cost Settlement funds to purchase Digital Dental Sensors from Patterson Dental.
♦ Approved a request from the Finance Department for approval of an amended Fairgrounds Capital Project Fund in the amount of $5 million for the Regional Economic Development Reserve Directed Grant Program.
♦ Request from Administration for approval to amend the American Rescue Plan Act Grant Ordinance and to award the $4.1 million bid for the Jennings Park Water and Sewer Project.
♦ Approved the 2045 Horizon Plan.