County audit reveals more debt and cash
Sun news service
Nevada County finished the last fiscal year in the black with more debt and extra money than the year before, according to an annual audit report to be discussed at today’s meeting.
The audit from Yuba City accountants Smith and Newell shows an ending fund balance of almost $57 million, up almost $5 million from the year before, of which $34 million is available for immediate county needs.
The county picked up almost $21 million in added debt during the 2006-2007 fiscal year due to loans for major wastewater projects. The long-term debt increased from around $49 million to almost $70 million.