The Henry County Board of Supervisors adopted the comprehensive fiscal year 2023 audit report at its December 19 meeting.
Kim Jackson, of Creedle, Jones, and Associates, said the county is doing well with a strong fund balance.
The county’s total fund balance for the general fund is approximately $106 million.
“An increase of $38 million from the prior fiscal year,” she said.
Jackson said the statement of revenue, expenditures, and changes in fund balance shows an increase that is primarily due to Virginia’s reimbursement of approximately $19 million of the Adult Detention Center (ADC) construction, $8 million in American Rescue Plan Act (ARPA) funds, and interest income of $2 million.
The county also has an unassigned fund balance of $38 million, which is nearly 36 percent of the county’s $106 million fund balance. The unassigned fund balance also is nearly 58 percent of the total general fund expenditures.
“This is the portion of the fund balance that has not been assigned, committed, or restricted for a specific purpose,” she said. “The unassigned fund balance at the end of the previous fiscal year was approximately $32 million, (for) an increase of $5.5 million.”
Funds in the unassigned fund balance are available to be spent at the county’s discretion.
To maintain its bond rating, the county has self-imposed a limit on its unassigned fund balance that reserves a minimum of 15 percent of the fund for emergency savings. This percentage equates to roughly $24 million.
When subtracted from the overall unassigned fund balance, that leaves approximately $14 million in the county’s discretionary fund available for one-time expenses.
In other matters, the board:
- Observed the swearing-in ceremony for those elected during the Nov. 7 election.
- Recognized outgoing Reed Creek Supervisor Tommy Slaughter and Ridgeway Supervisor Ryan Zehr.
- Approved the items of consent.
- Heard the monthly report on delinquent tax collection efforts.
- Approved a resolution honoring Robert Clark for his 34 years of service on the Board of Zoning Appeals.
- Approved a resolution honoring Commissioner of Revenue Linda Love for her 33 years of service.
- Heard an update from the Martinsville-Henry County Economic Development Corp. (EDC).
- Approved a resolution honoring Master Chief Deputy Clerk Frances Wade for her 41 years of service in the Henry County Circuit Court Clerk’s Office.
- Set January 9 at 5 p.m. for the 2024 organizational meeting.
- Approved asking the General Assembly to reimburse $35,000 to the county for the special election on January 9.
- Awarded a $53,640 contract to Quality Seal Coating & Sports Surfaces for the resurfacing and lining of tennis courts at Jaycee Park to accommodate the sport of pickleball.
- Approved an additional appropriation of $299,600 from the one percent sales tax fund for architectural and engineering services related to the installation of elevators at Campbell Court, Drewry Mason, and G.W. Carver elementary schools.
- Appointed Kathryn Whitley to serve on the Parks and Recreation Board for an unexpired term ending June 30, 2025; appointed Pam Cobler to serve on the West Piedmont Planning District Commission for an unexpired term ending Dec. 31, 2025; and appointed Tim Chitwood to serve on the Patrick & Henry Community College Board for an unexpired term ending June 30, 2027.
- Awarded a $58,046 contract to RK Chevrolet to purchase a Chevrolet Tahoe special service vehicle for the Sheriff’s Office.
- Conducted a public hearing and approved a request to rezone approximately 1.9 acres of the Collinsville District from Suburban Residential District (S-R) to Mixed Residential District (M-R). The applicant wishes to place a double-wide manufactured home on the property.
Zehr did not attend the meeting.
Henry County Circuit Court Clerk Jennifer Ashworth administers the Oath of Office to those elected or reelected to county positions in the November election, including:
