Montague County receives ‘clean’ audit for 2016-17

Montague County receive a “clean” opinion in its 2016-17 audit presented to the commissioner’s court Monday.
Michael Edgin of Edgin, Edgin, Fleming and Fleming, PC, made the presentation noting the county’s net position experienced a positive change of two percent ($628,692) and resulted in a healthy unassigned fund balance of $6,014,960.
Some of the financial highlights were:
• The county’s assets exceeded its liabilities by $27,327,181. Of that amount $10,519,428 may be used to meet its obligations.
• The county’s expenses totaled $14,491,591, which were less than the county’s program revenues of $5,415,621 and general revenues and special items of $9,704,932.
Edgin noted due to changes in the county’s investment policy the interest income has increased by $42,559 this year due to expanding into other areas that just the state pool.

Read the full story in the mid-week News.