Cambria County’s fiscal house is in order, and some important ink is black, county commissioners announced at their meeting Thursday.
Their annual audit, which assesses the county budget and actual spending each year, was completed by June 30, the end of the fiscal year. It shows that the county’s operating funds ended up in the black by $140,000.
“That’s good news,” said P.J. Stevens, president commissioner.
“The mere fact that the audit was done at the end of the fiscal year is a story in and of itself,” he said, referring to past years when the audit usually was not completed until much later in the year.
Also on the positive side is the finding that the county’s unreserved fund balance ended up in the black for the first time in several years.
The fund is like a household savings account for emergencies or unexpected expenses.
“When we took office, there was a negative in that fund to the tune of $5.4 million,” he said.
“That was at the end of 2003. Now, we’re showing a positive balance of $4 million. That demonstrates that we’re not overdoing it,” he said.
While that’s a positive result for the county, it does not negate the losses at Laurel Crest Rehabilitation & Special Care Center, the county-owned nursing home.
That money is in a separate fund, and the home has seen ongoing losses, with at least $2 million in red ink expected this year alone.
But Laurel Crest aside, county officials said they are proud of the newly completed audit.
Chief Clerk Mike Gelles said that substantial excess in a county’s unreserved fund, which in simple terms reflects a county’s assets minus its liabilities, is recommended by state groups of accountants and auditors.
Cambria County has been faulted in the past for not showing enough black ink in that category.
“This is good news,” he said.
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Audit: County in black except for nursing home
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