By Miles Layton

CAMDEN — Camden County remains in strong financial condition despite a slight decrease in the fund balance during the 2024–25 fiscal year, according to the county’s latest audit presentation.

Sam Potts of the accounting firm Thompson, Price, Scott, Adams & Co. delivered the report to the Camden County Board of Commissioners, outlining the county’s revenues, expenditures and financial position for the fiscal year that ended June 30, 2025.

“I think Camden County is in great financial standing,” he said.

Potts began by explaining the scope and purpose of the audit, noting it was conducted under several sets of professional standards.

“We designed the audit to provide reasonable assurance that the financial statements are free of material error and in compliance with government regulations,” he said.  

The audit found no major disputes or irregularities.

“There were no significant audit adjustments or unrecorded differences,” Potts said. “There were no disagreements with management. We did not consult with any other outside accountants and there were no prior retention issues. There were no significant difficulties, nor were there any irregularities or illegal acts.”

Albeit a crappy photo, the feature photo that accompanies this story is of Sam Potts providing the audit presentation to the commission.

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Revenues, spending and fund balance

During the 2024–25 fiscal year, Camden County’s general fund generated more than $23 million in revenue.

“The general fund had total revenues of $23,352,529 and total expenditures and other financing sources of $24,044,380,” Potts said.

That resulted in a net decrease in the county’s fund balance.

“This did result in a negative net change in fund balance for the general fund this year of negative $691,851,” he said.

Potts explained the decline was largely due to a significant transfer to another fund.

“The main reason for the negative change in fund balance was a large transfer to the school capital fund,” he said.

Despite that decrease, the county remains well above the state’s minimum financial requirements.

“The LGC requires a minimum undesignated fund balance to be 20 percent of total general fund expenditures,” Potts said. “The county’s actual unassigned fund balance is $14,876,000. So you are well above the 20 percent minimum.”

That level equals about 91 percent of the county’s annual expenditures.

Tax collections also remained strong.

“Tax collection rate this year was 97.87 percent, which is really good for the county,” Potts said.

Overall revenue trends have been positive in recent years.

“Past four years operating revenues have exceeded operating expenses, which is great, what we like to see,” he said.

Where the money comes from

Property taxes continue to be Camden County’s primary source of income.

“The largest one being ad valorem taxes at 55 percent,” Potts said.

Other major revenue sources include local taxes and licenses, intergovernmental revenue and investment income.

“Other taxes and licenses about $5.2 million,” Potts said. “That’s going to be stuff like your local option sales tax as well as telecommunications tax.”

State and federal grants also provide a portion of county funding.

“About $2.2 million is restricted intergovernmental,” Potts said.

Other revenue streams include permits, fees and distributions from the ABC system.

Major expenses

Public safety remains the county’s largest spending category.

“The largest one is public safety, so the sheriff’s department and also things like contributions to local fire districts,” Potts said.

Education is the second-largest expenditure.

“Second largest expense is the education department at about $5.2 million,” he said.

Human services, general government and economic development make up the remainder of the largest spending categories.

“Human services are expenses going toward health programs and social services,” Potts said.

Other funds

The county’s opioid settlement fund continued to grow during the fiscal year.

Potts said total revenue is about $86,000, with total expenditures roughly $4,300 —  a positive net change of $82,000.

The fund balance increased to $278,000 by the end of the fiscal year.

The school capital fund saw the largest increase due to loan proceeds.

“Total revenues and other financing sources was $33,381,336,” Potts said. “That was mainly loan proceeds this year.”

Those proceeds increased the fund’s balance to more than $39 million.

Meanwhile, the county’s water and sewer district reported positive operating income.

“Operating revenue was just over $3 million,” Potts said. “Operating expenses was right at $2.6 million.”

After accounting for depreciation and other revenues, the district’s net position rose to $24.2 million.

Findings and recommendations

Although the county’s financial position is strong, auditors identified a few minor issues.

One finding involved two small budget violations.

“The two violations was the Dismal Swamp Visitor Center fund, and the fire district fund was also out of budget by a little bit,” Potts said.

He recommended that county officials closely monitor monthly budget reports.

“What we recommend you probably do this already is just looking at a budget actual statement, preferably every month, definitely May and June,” Potts said.

Auditors also noted a prior-period adjustment involving equity balances and minor errors found in a Medicaid eligibility sample.

“We take a random sample,” Potts said. “For this year we did 60 Medicaid transactions and for this one particular finding we found one error.”

He said such findings are common among counties.

“We audit seven or eight counties. Every single one of them gets an eligibility finding,” Potts said.

The audit was also submitted later than usual due to delays in confirming grant information.

“We needed to confirm revenues and expenditures with grantors,” Potts said. “That took some time this year.”

Potts said the county’s financial outlook remains positive.

Commissioner Sissy Aydlett said residents have asked about the county’s financial condition.

“I’ve had several people come up to me and ask about what kind of financial shape our county was in because they’ve been reading some stuff online,” Aydlett said.

Potts reiterated his assessment.

“I think the county’s in great financial shape,” he said.

Employee recognitions

Prior to the audit presentation, county officials recognized several employees for their service.

Amanda Mathews introduced Animal Control Officer Trey Erb.

“Trey has actually been with us for about a year, but we just never formally introduced him to you,” Mathews said. “So welcome. Thank you, Trey.”

Officials also recognized Ashley Jennings, the county’s register of deeds, for a milestone anniversary.

“Next we’d like to recognize Ashley Jennings, register of deeds, for 10 years of dedicated service to the county,” Mathews said.