Friday, July 13, 2001
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Friday, July 13, 2001 |
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County gets clean bill of financial health By JOHN
THOMPSON
Coweta County is in excellent financial health. That's the verdict from Bates, Carter and Company, which just completed the county's audit for 2000. County Finance Officer Rick Smoot said the company's opinion of the county is unqualified, which means there were no glaring errors or problems in the county's bookkeeping system. Smoot said the combined balance sheet shows the county had a strong financial position and revenues exceeded expenditures in the general fund. Last year, the county spent $27.7 million in general funds, while collecting $31.4 million in revenue. The overall fund balance of the general fund grew $1.7 million, for a 6.38 percent increase. Last year, the county collected just over $12 million in special purpose local option sales taxes, distributing $4.1 million of that to municipalities and spending $6.7 million on capital projects in the county, including roads and bridges, recreation, fire and water. Smoot said the county's strong financial position was demonstrated by national bond ratings companies increasing the county's rating from A to AA.
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