Clay County Board of Commissioners Show Continued Fiscal Responsibility

Clay County Audited Financial Statements: June 30, 2021

Highlights Include:

• The assets and deferred outflows of resources of Clay County exceeded its liabilities and deferred inflows of resources at the close of fiscal year by $21,909,107 (net position)

• The government's total net position INCREASED by $1,291,871

• Clay County's total debt outstanding DECREASED by $1,769,893 or 16.40%

• At the end of FY ending June 30, 2021, Clay County's government funds reported combined ending fund balances of $8,389,270

• At the end of FY 2021, unassigned fund balance for the General Fund was $5,187,955 or 25 percent of total general fund expenditures for the fiscal year.

Some of the items which have led to the increase in the counties net position were:

• Management's PROACTIVE stance on monitoring spending across county departments to ensure budget compliance

• Continued diligence in the collection of property taxes by maintaining a high collection percentage of nearly 98% with NO INCREASE IN NEW PROPERTY TAXES

• Consolidation of departments and facilities to gain efficiencies and reduce cost of operation

• Active and successful pursuit of grants for capital improvements and equipment to minimize local dollars.

This marks the fifth consecutive year that Clay County has operated on a SURPLUS. This is consistent with our goal of eliminating deficit spending, decreasing debt service, aggressively pursuing delinquent taxes, and smaller and more efficient government. The above results are a testament to the Clay County Board of Commissioner's and County Management's commitment to success. Together we will continue to ensure fiscal responsibility and accountability.