Under NorCo's Home Rule Charter, an independent certified public accountant appointed by County Council must audit the county's financial records every year and report back. County Council received that report on Wednesday from Jennifer Cruverkibi of MaherDuessel. She issued an unmodified (clean) audit opinion for 2025, which is the highest level of assurance available.
She reports that the county's overall financial equity declined by approximately $9.9 million, ending 2025 at $164 million. Long-term debt increased by $15.4 million, ending the year at $93.7 million. This increase is the result of a new bond issue that was used to refinance existing debt and fund capital improvements that include a new parking deck at the courthouse complex. The county has only used 5.67% iof its legally auythorized borrowing capacity.
Government revenues increased approximately 6%. Only 26.1% of county revenue comes from taxes. Most revenue is in the form of federal and sate grants.
Where does the money go? About 85% goes to Human Services, the courts and corrections.
The county ended 2025 with a fund balance of $20.8 million. This includes an $8.5 million rainy-day fund. This does exceed two months of operating expenses, which is recommended by the Government Officers Finance Association.
This report is available online
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