SIXTH CONSECUTIVE BUDGET SURPLUS
Clay County Board of Commissioners show continued fiscal responsibility:
Clay County Audited Financial Statements: June 30, 2022
Highlights Include:
-No material weaknesses or findings (CLEAN AUDIT)
-The assets and deferred outflows of resources of Clay County exceeded its liabilities and deferred inflows of resources at the close of the fiscal year by $24,577,796 (net position).
- The County's total net position INCREASED by $2,668,719 based on an increase in the governmental activities net position of $2,995,016 and a decrease in the business type activities net position of $326,297.
- As of the close of the 21/22 fiscal year, Clay County's governmental funds reported combined ending fund balances of $9,934,345, after a net INCREASE in fund balance of $1,545,075. Approximately 24.71 percent of this total amount, or $2,455,136, is restricted or nonspendable.
- At the end of the current fiscal year, unassigned fund balance for the General Fund was $7,366,498, or 35.55 percent of total general fund expenditures for the fiscal year.
Clay County's outstanding DEBT DECREASED by $1,148,844 (12.73%) during the current 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
- Previous 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 SIXTH 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.