Audit finds county finances to be healthy

Upon completion of a 2023 audit, PKF O’Connor Davies has assessed Orange County’s finances as “unmodified or clean,” the highest opinion that can given by a CPA firm, according to a July 18 press release from the office of Orange County Executive Steve Neuhaus.

“The fiscal policies and positive working relationships between the legislature and the county executive’s office and every county department continue to flourish, despite the policies and burdens placed on us by New York State,” said Orange County Legislator Joseph Minuta, who chairs the Education and Economic Development Committee. “This report, accompanied by Orange County’s bond rating, acknowledges that our county is without a doubt one of the strongest counties in the state.”

Key highlights, according to the county, include:

Financial position: The audit highlighted the county’s solid financial health, with decreased real property tax levy, increased reserve balances, increased grant utilization, and reduced debt.

Internal controls: The auditors noted effective internal controls, ensuring the reliability of financial reporting and compliance with applicable laws and regulations.

Commitment to best practices: Orange County continues to invest in enhancing its accounting processes and systems, fostering ongoing improvements in financial governance.

Fund balance assignments: The county has allocated funding to several projects with an emphasis on open space, public safety enhancements, parks, IT security, and infrastructure.

“This unmodified opinion underscores our dedication to financial excellence and accountability,” said Finance Commissioner Kerry Gallagher. “We are proud of our achievements and remain committed to serving our constituents with integrity.”

According to Gallagher, based on PFK O’Connor Davies’ favorable opinion, the county will be submitting its Annual Comprehensive Financial Report to the Government Finance Officers Association (GFOA) of the United States and Canada, with anticipation of receiving its 29th consecutive Certificate of Excellence in Financial Reporting.

“I have worked closely with all department heads to change the financial picture of our county,” Neuhaus said. “It is something we are all very proud of, and we will continue to strive to be excellent stewards of county taxpayers’ dollars. It is gratifying to see the county’s finances stable while its economy continues to grow.”