Henry County's financial health continues to show improvement, as an audit conducted by the accounting firm Creedle, Jones & Associates, P.C. revealed a $24 million increase in the county's net position for Fiscal Year (FY) 2024. The results of the audit were presented to the Henry County Board of Supervisors at their meeting on December 17, 2024.
Net position, which represents the difference between a government's assets and liabilities, is a key indicator of an entity's financial well-being. The $24 million growth reflects both the county’s strategic investments and improved financial management over the past year.
“These findings demonstrate that the county is on solid financial footing,” said Darrell Jones, Chief Financial Officer for Henry County. “While we remain mindful of current trends and potential future expenditures, these results are certainly positive indicators of the county's financial health.
A lot of this can be attributed to the Board’s effective financial policies, investment strategy, and asset management."
A significant driver behind the net position increase was the acquisition of the Monogram Foods Smith River Sports Complex, which contributed to the county’s assets.
Additionally, Henry County paid off a major liability—the “balloon note”—used to finance the construction of the Adult Detention Center (ADC), further enhancing the county’s financial standing.
These strategic moves—growing assets while reducing liabilities—helped bolster the county’s overall financial position.
The audit also revealed an increase in the county’s unassigned fund balance, which rose by approximately $6 million.
However, the county's overall fund balance decreased by nearly $8.9 million, largely due to the payment of the balloon note for the ADC.
The unassigned fund balance now stands at $44,168,078 at the end of FY 2024.
The unassigned fund balance represents funds available for discretionary spending, and the county has adopted a policy to maintain a self-imposed limit on this balance.
This is aimed at reducing reliance on tax increases and instead positioning the county to use long-term bonds for funding future capital projects.
As a result of this policy, only $17.3 million of the unassigned fund balance is currently available for spending, excluding any future debt obligations.
In addition to reviewing the financial audit, the Henry County Board of Supervisors made several other key decisions during the December 17 meeting:
Recognition: The Board honored Rita Shropshire for her 63 years of public service.
Attendance Policy Changes: The Board adopted changes to its attendance policy, allowing members to participate in meetings electronically. These updates will be incorporated into the Board’s bylaws, which will be considered at the Organizational Meeting in January 2025.
Appropriations: The Board approved several appropriations:
$26,398 for a replacement vehicle for the Department of Public Safety, funded by vehicle insurance settlements.
$49,975 from Ford Motor Company for a replacement vehicle for the Parks & Recreation Department.
$14,489 from the Edward Byrne Memorial Justice Assistance Grant to cover overtime hours for deputies.
Vehicle Purchases: The Board awarded a contract to Haley Ford for the purchase of five 2025 Ford Police Interceptor Utility vehicles totaling $215,871.
Other business included setting the 2025 Organizational Meeting for January 6, 2025, at 1 p.m., reappointing several members to various county boards, and conveying 19.64 acres of property to itself for the purpose of enacting deed restrictions in compliance with the Land and Water Conservation Act.
Henry County’s strong financial performance in FY 2024 provides a solid foundation for the county’s continued growth and development.
The Board of Supervisors remains focused on maintaining fiscal responsibility, balancing future capital needs with prudent management of funds.
“We’ll continue to work hard to ensure the county remains in a strong financial position moving forward, and these results reflect that,” said Darrell Jones.
For further information, contact the Henry County Finance Department or visit the Henry County Board of Supervisors’ website for updates on the county’s financial reports and meetings.
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