Fiscal year 2017 audit report for Franklin County released

he Franklin County Fiscal Year 2017 audit report, conducted by Gardiner Thomsen, was released last week. Of all the statistics compiled in the report, the most influential, according to the report, is the county’s net position.

At the end of FY 17, the county saw its net position increase by $1.081 million from last year, approximately 4.5 percent ($24.031 million to $25.112 million). According to the report “net position may serve over time as a useful indicator of financial position.”

The report calculates the county’s net position by looking at the value of the county’s assets, and subtracting the debt owed on them. A majority of the county’s assets are in capital assets (land, infrastructure, buildings and equipment).

Read the full story in the November 30 edition.