Wilkes County government finances are in sound condition despite the COVID-19 pandemic, stated a certified public accountant in an audit report for the county commissioners at their Feb. 16 meeting.
Cassie Wilson, of the Hickory-based CPA firm of Martin, Starnes Associates, said county government’s available fund balance increased from $34.1 million in the fiscal year ending June 30, 2019, to $35.7 million in the fiscal year ending June 30, 2020.
As a% of expenditures, Wilson said the available fund balance increased from 45.54% to 46.50% in he same period. The N.C. Local Government Commission requires that it be at least 8%
County government revenues totaled $79 million and expenditures were $76.2 million in the last fiscal year. Property tax collections increased from $38.52 million to $39.24 million.