County audit released

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 Peercy and Gray PSC of Louisville recently released its audit of the Taylor County Fiscal Court for fiscal year ending June 30, 2012.

The audit found that the Court had unrestricted net assets of $3.3 million in its governmental activities as of June 30, 2012, with total net assets of more than $13.1 million. In its business-type activities, the Court had total net cash and cash equivalents of $70,636.

As of June 30, 2012, the court had $23,063,322 in debt principal, with $1,047,989 due within the next year. In the audit, Taylor Regional Hospital had net assets of $50 million and Taylor County Airport had about $1.2 million. The Fiscal Court appoints members to both boards.

The audit found no instances of noncompliance.