County Gets Good Report on Finances

Yancey County’s finances have steadily improved over the past five years according to the annual independent audit report presented to commissioners at their recent meeting. The county’s fund balance has steadily improved over the past five years from minus 8 percent to 5.6 percent on the positive side this past fiscal year. An 8 percent balance is the states benchmark so there is still some work to be done. Yancey County has set a goal of a healthy 16 percent fund balance. At the close of the fiscal year Yancey County had a combined governmental fund balance of $2,485,833 which was an increase of $96,773 over the previous year.

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Topics : Business_FinanceLabor
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Locations : Yancey County
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