Highlights of the findings of Prince Edward County’s Fiscal Year 2018 (FY18) Audit show favorable numbers as they pertain to the county’s financial position.

During the board’s regular March meeting Tuesday, Josh Roller, of Robinson Farmer Cox Associates, reviewed the county’s FY18 audit, generally guiding supervisors through key sections of it.

A separate summary in the meeting board packet provided some key highlights from the audit.

The summary first stated that the county’s cash position increased from approximately $11.6 million to $13.4 million during FY18, an increase of approximately $1.8 million or 15.5 percent. Of the $13.4 million, $1.5 million resides in the landfill construction budget, which has been set aside for construction and closure costs associated with the landfill. However, the summary added that these funds are not legally restricted and could be used for other purposes if the board so desires.

Roller did not cite many dollar amounts during his presentation, but rather more generally guided supervisors to where those numbers were on the pages of the audit that they had in front of them. One of the exceptions, though, was when he referenced the general fund statement of revenues/expenditures on a budgetary basis.

“As you can see, your revenues at the end of the year exceeded your final budget by $826,000, and then about halfway down the page, your total expenditures were less than your final budget by $547,000,” he said.

The summary in the board meeting packet went into greater detail, citing that revenues in the county’s general fund exceeded budgetary amounts by $826,386. Accounting for $605,947 or 73.3 percent of that amount were collections exceeding the budget in personal property taxes ($418,463), local sales tax ($114,176) and taxes on recordation and wills ($73,308).

In addition to increased collections, most of the county’s departments and constitutional offices under expended their budgets, the summary continued, adding that the single largest expenditure savings was from the efforts of the regional jail, which allowed the county to save $433,068 when compared to the budget.

After Roller’s presentation, there were no questions from the board.

“The board may wish to accept the auditor’s report,” Farmville 701 District Supervisor and Board Chairman Jim Wilck said, after which the board did so unanimously.