Northampton passes FY2024 audit

Northampton County has passed its FY2024 audit with high marks.

Jay Sanudo of Robinson, Farmer, Cox & Associates reported that their firm gave Northampton an unmodified opinion—the highest possible rating for financial statements. The audit revealed an $8.2 million increase in the county’s net position, bringing the total to $60.2 million. The county’s fund balance grew to $89.7 million, up $4.8 million from the previous year, though unassigned funds decreased from $15.4 million to $9.8 million, primarily due to a contribution to the school construction fund.

Total revenue reached $56.3 million, falling $900,000 short of the budgeted $57.2 million due to unrealized USDA and Community Oriented Policing Services grants. While the county budgeted $118 million for expenditures, it spent $51.5 million, the difference largely attributed to the high school construction project budgeted for FY24 but not yet completed.

The county’s long-term debt stands at $7 million, excluding landfill liability, while the School Board carries $68 million in debt, with payments scheduled through 2042. The School Board’s financial statements reflected county contributions of $10.6 million for the year.

Federal expenditures totaled $8.6 million, with no findings of non-compliance or internal control issues. Sanudo noted that the county maintains a “low risk” classification for federal program audits, having maintained a clean record for the past two years.

Sanudo praised the county’s finance department for its outstanding performance despite having a smaller staff than other localities. He particularly commended the strong collaboration between the county and School Board finance offices, noting that such effective partnerships are not common among the localities he audits.