Bradley County Mayor D. Gary DavisCLEVELAND, Tenn. – State auditors have given Bradley County good marks for handling its financial affairs in the fiscal year that ended June 30.
In a recent meeting with county commissioners, Bradley County Finance Director Lynn Burns discussed highlights of the audit, which addressed a few concerns about credit card- and cash-handling procedures in various departments. The review also noted a significant increase in the county’s assets — a leap of 13.4 percent over the previous year.
“The majority of that increase is the pay-down of debt,” Burns said.
According to the audit, the county’s net assets for the fiscal year were $24.8 million, compared to $21.8 million for fiscal year 2010-11 and $21 million for 2009-10. The 2011-12 increase more than tripled the 4 percent increase in net assets for 2010-11.
“The debt decreased, no matter what people [who] stand in front of you sometimes say and nobody wants to correct them,” County Mayor D. Gary Davis told commissioners.