Uintah County Audit Clarifies Budget and Financial Standing
Uintah County approved the acceptance of a third party audit during Monday’s Uintah County Commission meeting. Greg Marsing of Smuin, Rich and Marsing presented the firm’s findings. “The economics here in the county has some downturn and the revenues of the county have gone down,” stated Marsing, “but the county has made adjustments for that…[and] in most instances were still able to maintain in the black and maintain fund balances which are critical to being able to go forward…and accomplish the things you desire to do. In this situation, you are doing really well.” Commissioner Shepherd commended Mike Wilkins, Wendy Long and the staff for their hard work. Commissioner Brad Horrocks also said he was very impressed by the audit and congratulated the county employees on a great job. Horrocks also asked that the county debt of $59 million dollars be stated on the record. Public input was welcomed and Tiffany Dofelmire stated that on social media the idea is being shared that the audit shows a surplus of $5 million dollars. She asked if Marsing could clarify to which he responded that for accounting purposes the audit also reflects an accrual accounting with $5.1 million dollars in net income, a figure that is deceiving. “The statement that shows $5 million dollars worth of income is on an accrual basis,” explained Marsing, “and doesn’t take into consideration purchases, capital assets, [and] payment of debt. Also, depreciation is subtracted out of the assets so it is a net figure. It is more of an accounting function than a cash flow function.” Commissioner Bill Stringer took the opportunity to respond to the question by stating that “it would be highly irresponsible to try and pick one soundbite out of that document. If you think you can say ‘this is the bottom line’ that would be very irresponsible. What we are looking for are trends [and] changes…There are moving parts to all of this.” Stringer continued by saying the audit is useful to ensure that the county is reacting to changes soon enough and ensuring that the the county remains in a healthy position