Henry County’s financial standing remains stable and well managed according to the results of an independent audit presented to the Board of Supervisors on December 16.
The audit was conducted by Creedle, Jones & Associates, a certified public accounting firm, and was presented by Certified Public Accountant Kim Jackson.
The fiscal year (FY) 2025 audit shows that Henry County ended the year with a total net position of $150.4 million, an increase of roughly $1 million from the previous year. This net position represents the County’s overall financial health. About one-third of that amount is tied up in long-term assets such as buildings, equipment, and land. These are items that are necessary for providing services but cannot be spent like cash. The remaining two-thirds is considered unrestricted and may be used to provide services or meet financial obligations.
“This audit shows that Henry County continues to manage taxpayer dollars in a careful and transparent way,” said Board Chairman Jim Adams. “We are proud of the financial practices we have in place, and we appreciate the work of our staff and our auditors in helping us maintain a strong and stable financial position for our citizens.”
Jackson reported that governmental activities, which include public safety, schools, administration, and other core services, increased the county’s net position by $1.04 million. Governmental revenues totaled $90.3 million, with property taxes contributing $34.5 million, the largest single revenue source. Total governmental expenses were $89.3 million, with public safety costing $30.1 million and education costing $28.5 million, making them the two largest categories.
Business-type activities, which operate more like self-supporting service programs, brought in $230,261 in revenue and posted $261,681 in expenses, resulting in a decrease of $31,420 in that area’s net position.
The county’s governmental funds, which focus on short-term spending and available resources, finished the year with a combined balance of $96.3 million, a decrease of about $1.09 million from last year. The General Fund, the county’s primary operating fund, closed the year with an unassigned fund balance of $40.36 million. After applying the County’s financial policies designed to preserve its strong borrowing position, only $13 million of that amount is considered available for spending.
Budget adjustments during the year included increases of $6.76 million in final budgeted revenues, largely from new or ongoing grants. Final budgeted expenditures increased by $53.9 million, primarily related to projects carried over from the previous year. Actual revenues finished just 0.57% below the final budget, while actual expenditures were 34% lower because many large projects remained incomplete as of June 30.
Governmental capital assets totaled $128.7 million after accounting for school buildings with outstanding debt, a slight decrease of 0.68% from last year. Capital assets for business-type activities totaled $965,195, also representing a modest decrease
In other matters, the board:
- Honored Jennifer Ashworth (36 years of service), Ran Cunningham (29 years of service), and Pam Mason (26 years of service) upon their retirements.
- Approved an additional appropriation of $35,000 received from the American Electric Power Foundation for the purchase of a cleaning system for self-contained breathing apparatus.
- Awarded a contract in the amount of $914,181 to Motorola Solutions to update the emergency services radio system.
- Approved an additional appropriation of $66,968 received from the Virginia Department of Criminal Justice Services to fund school security officers for Bassett and Magna Vista High Schools.
- Received an update from Cozen O’Conner Public Strategies on ongoing lobbying efforts in Richmond on behalf of the county.
- Scheduled its 2026 Organizational Meeting for January 2, at 11 a.m.
- Held a swearing-in ceremony for recently elected representatives Jim Adams, Garrett Dillard, and Chris Lawless.
- Conducted a public hearing and approved the abandonment of a discontinued section of Route 57 in the Iriswood District.
- Conducted a public hearing and approved the rezoning of 0.6-acres of the Horsepasture District from Suburban Residential District to Professional District. The applicant wishes to have the option of using the property for either a hair salon, consulting office, or both.
- Conducted a public hearing and approved the rezoning of 1.3-acres of the Reed Creek District from Commercial District to Limited Industrial District. The applicant wishes to use the property for both limited manufacturing (coffee roasting) and retail use.
- Reappointed Daryl Emberson, Richard Hall, Tim Pace, Nubby Coleman, and Gary Gibson to the Patriot Centre/CCBC Advisory Board for 2-year terms scheduled to end on December 31, 2027.
- Appointed Michael Scales to the Patriot Centre/CCBC Advisory Board for a 2-year term scheduled to end on December 31, 2027.
