09/03/2026
๐๐ ๐ฃ๐ข๐ฅ๐ง๐๐ก๐ง ๐จ๐ฃ๐๐๐ง๐: As most people know, Campbell County has been behind on its required annual audits for several years, something that predated my time on the board. As a result of that delinquency, the county's portion of sales tax dollars were being withheld by the state until we came into compliance. ๐'๐ข ๐๐๐ฅ๐ฅ๐ฎ ๐ฉ๐ค ๐ง๐๐ฅ๐ค๐ง๐ฉ ๐ฌ๐ ๐๐ง๐ ๐๐๐ฃ๐๐ก๐ก๐ฎ ๐๐๐ช๐๐๐ฉ ๐ช๐ฅ ๐ฉ๐๐๐ฃ๐ ๐จ ๐ฉ๐ค ๐ค๐ช๐ง ๐๐๐๐๐๐๐ฉ๐๐ ๐พ๐ค๐ช๐ฃ๐ฉ๐ฎ ๐๐ฉ๐๐๐!
Yesterday the Board of Commissioners approved the audit for FY2024/2025. ๐๐ฉ ๐ฃ๐ค๐ฉ ๐ค๐ฃ๐ก๐ฎ ๐ข๐๐๐ฃ๐จ ๐ฌ๐ ๐๐ง๐ ๐ฃ๐ค๐ฌ ๐๐ช๐ง๐ง๐๐ฃ๐ฉ ๐ฌ๐๐ฉ๐ ๐จ๐ฉ๐๐ฉ๐ ๐ง๐๐ฆ๐ช๐๐ง๐๐ข๐๐ฃ๐ฉ๐จ, ๐๐ฉ ๐๐ก๐จ๐ค ๐ข๐๐๐ฃ๐จ ๐ฉ๐๐ค๐จ๐ ๐ฌ๐๐ฉ๐๐๐๐ก๐ ๐จ๐๐ก๐๐จ ๐ฉ๐๐ญ ๐๐ค๐ก๐ก๐๐ง๐จ ๐ฌ๐๐ก๐ก ๐๐ ๐ง๐๐ข๐๐ฉ๐ฉ๐๐ ๐๐๐๐ ๐ฉ๐ค ๐ฉ๐๐ ๐พ๐ค๐ช๐ฃ๐ฉ๐ฎ. For FY2025/2026, which just ended on June 30th, that audit will need to be completed by December 31st of this year. It's the goal of the Commissioner's Office to meet that deadline and remain current moving forward.
Your Campbell County Gov't is required to perform an audit with a third-party CPA firm every year for public transparency and to stay in compliance with state law. It's a tool for accountability when it comes to your taxpayer dollars. Beyond that, however, these audits are crucial for local government officials when drafting future budgets and getting a sense of the overall fiscal profile of the county. The information audits yield is incredibly important. Here's a couple of highlights from the 2024/2025 audit:
The total budget for FY2024/25 was $145,112,080.00. This is based off of an assessed valuation of $5.324 billion at a mill levy of 10.95 mills. The mill levy for this fiscal year is $4.891 billion at a mill levy at 10.45 mills. Most of the dollars that are spent go through the County's main checking account, aka the general fund (GF).
The ๐ฎ๐ฐ๐๐๐ฎ๐น ๐ฎ๐บ๐ผ๐๐ป๐ ๐๐ฝ๐ฒ๐ป๐ ๐ณ๐ฟ๐ผ๐บ ๐๐ต๐ฒ ๐๐ was: $๐ญ๐ญ๐ด,๐ด๐ต๐ญ,๐ฐ๐ฐ๐ฏ
The ๐ฎ๐ฐ๐๐๐ฎ๐น ๐ฟ๐ฒ๐๐ฒ๐ป๐๐ฒ๐ ๐ณ๐ผ๐ฟ ๐๐ต๐ฒ ๐๐ were: $๐ญ๐ญ๐ด,๐ฐ๐ฌ๐ฌ,๐ต๐ฎ๐ฎ
This resulted in a small deficit of -$490,521 in the GF
This, however, is not the whole picture.
While the total amount of actual expenditures stayed relatively the same, ๐ฉ๐๐ ๐พ๐ค๐ช๐ฃ๐ฉ๐ฎ'๐จ ๐ฉ๐ค๐ฉ๐๐ก ๐ง๐๐ซ๐๐ฃ๐ช๐ ๐ฅ๐๐๐ฉ๐ช๐ง๐ ๐ช๐ก๐ฉ๐๐ข๐๐ฉ๐๐ก๐ฎ ๐ง๐๐จ๐ช๐ก๐ฉ๐๐ ๐๐ฃ ๐ ๐ฃ๐๐ฉ ๐ฅ๐ค๐จ๐๐ฉ๐๐ซ๐ ๐๐ข๐ค๐ช๐ฃ๐ฉ ๐๐จ ๐ ๐ง๐๐จ๐ช๐ก๐ฉ ๐ค๐ ๐ฉ๐๐ ๐พ๐ค๐ช๐ฃ๐ฉ๐ฎ'๐จ ๐๐ฃ๐ซ๐๐จ๐ฉ๐ข๐๐ฃ๐ฉ๐จ. For example, investment earnings across all of the county's funds, including the GF, resulted in a total of $17,010,338.
Something else to consider for that fiscal year is that the Commission took $5 million from the GF and transferred that to a designated maintenance fund for Camplex, wherein they would get to use investment income from that fund to take care of ongoing maintenance issues at Camplex. ๐ผ๐ก๐ก ๐ค๐ ๐ฉ๐๐๐จ ๐ฉ๐๐ ๐๐ฃ ๐ฉ๐ค๐๐๐ฉ๐๐๐ง, ๐ฉ๐๐ ๐พ๐ค๐ช๐ฃ๐ฉ๐ฎ'๐จ ๐ค๐ซ๐๐ง๐๐ก๐ก ๐๐๐จ๐๐๐ก ๐ฅ๐ง๐ค๐๐๐ก๐ ๐ง๐๐จ๐ช๐ก๐ฉ๐๐ ๐๐ฃ ๐ ๐ฃ๐๐ฉ ๐ฅ๐ค๐จ๐๐ฉ๐๐ซ๐ ๐ค๐ $๐ญ๐ฎ,๐ฐ๐ญ๐ฎ,๐ฐ๐ด๐ฌ ๐๐ค๐ก๐ก๐๐ง๐จ, despite the small deficit in the GF. Click on the link to see the full audit.
