Franklin County Gets Unmodified Opinion in 2023 Audit Report

Franklin County has received an unmodified opinion for its 2023 audit from the Accounting Firm of Rushton & Co.

Under the County’s Net Position for 2023, Franklin County had just under $51 million in investments, $9.8 million in restricted funds, such as SPLOST funds, and $2.6 million in unrestricted funds.

According to CPA Samuel Latimer, a Partner with Rushton & Co, Franklin County had an increase in expenditures in 2023 which he said were largely due to some big expenses.

2023 Revenues, Latimer noted, were up to $21.6 million from $19.2 million in 2022.

Most of the General Fund Revenue he said came from property taxes, 43%.

The rest came from Local Option Sales Tax revenue, charges for services, and Title Ad Valorum tax.

For the Water & Sewer Fund, Franklin County had operating expenses of just over $3.1 million, which was over $3 million in revenue.

Probably one of the more important aspects of Latimer’s audit presentation came under Recommendations where he said the County should hire a full-time Finance Director.

County Commission Chair Jeff Jacques pointed out that the Board was surprised to learn that at the end of 2023, the County had to amend the budget by almost $4 million to keep from being in the red – that after being told earlier in the year the County was in good financial shape.

Latimer said a full-time finance Director could review the budget at least quarterly, but preferably monthly throughout the year to keep that from happening in the future.

After hearing from Latimer Jacques asked Interim County Manager Terry Harris to have a monthly financial report available at future Board of Commission meetings.