<< Back 11/6/02 Macon finances lauded in annual audit By Don Hendershot The chairman of the Macon County Board banged his gavel for the last time — at least for the foreseeable future — at the Nov. 4 meeting. “I want to take this opportunity to thank this board for all their hard work and dedication. It has been a wonderful board,” said Harold Corbin. He also thanked county employees, the county manager and staff. One of the items on the agenda was the presentation of a Certificate of Achievement for Excellence in Financial Reporting from the Government Finance Officers Association of the U.S. and Canada. “I hope this will put to rest some of the rhetoric about county government spiraling out of control,” Corbin said before presenting the certificate to Macon Finance Officer Kim Woodley. The county also received high marks from the auditing firm of Martin Starnes and Associates. Brian Starnes told commissioners that the county’s undesignated fund balance of just over $8 million demonstrated prudent financial planning. The $8 million translates to 32.9 percent of general fund expenditures. “We audit nine counties and I can’t think of another county with a 32-percent fund balance, especially in the last two years,” Starnes said. The Local Government Commissions recommends that counties keep a fund balance of between 8 and 15 percent. Macon County’s 2002 fund balance actually grew by $693,378 from 2001. “Most reports this year will show deficits,” Starnes said. Starnes said the county still had some work to do regarding landfill reconciliations. He said he understood that there were problems in the landfill’s software package and noted that the county had made strides over last year’s reporting but encouraged commissioners to continue to work on remedying the landfill issue. Starnes said Macon suffered more from a depressed economy than from the absence of state reimbursements. The state withheld $111,001 in reimbursements but Starnes said the county lost $400,000 in interest on its investments because of lower rates. Macon County was one of the few counties that did not enact the third half-cent sales tax option. “We didn’t do it and I’m proud of that,” commissioner Alan Bryson said. Greenwood said that adding a half-cent sales tax in a softening economy was illogical. “It’s a direct tax on the populace,” he said. County manager, Sam Greenwood cautioned the board to maintain a strong reserve. “State agencies have not absorbed all the budget changes from this year,” Greenwood said.