OAKLAND - Though this year's audit was later than planned due to the late receipt of evaluations, the audit for Garrett County was overall positive.

"The county appears to be in great shape," Jim Murray, audit principal for Rodeheaver and Associates, said at the county commission meeting on Tuesday. "You have solid fund balance. You are able to maintain your superior bond rating."

Murray presented to the commissioners the audit for the 2006 fiscal year, showing that the total net assets were $113,181,965 for the year.

He said the the expenses for governmental services were lower than the revenues, such as taxes, investment earnings and other sources. With the cost of governmental services provided at $37,466,795 and a generated revenue of $44,299,186, the net gain was $6,832,391. He said that there was a gain also in business-type activites in the county totalling $3,141,601.

He added that there was a special item of $2.8 million spent on infrastructure assets that the county constructed and transferred to businesses, such as was done for ClosetMaid.

Murray also pointed out that a number of seemingly unfavorable variances between the proposed and amended budgets and the reality of expenses were not entirely what they seemed on paper. One was $64,000 spent in parks and recreation that was due to receiving Program Open Space money, which is not included in a budget because these vary from year to year. Others that Murray showed in the audit were actually paid by the state or re-imbursed by the state, but appeared as unforseen expenses that went over budget.

The audit went on to discuss proprietary funds, which Murray explained help to determine a profit or loss for the year. He said that the airport showed a loss of $223,335, a loss which Ernie Gregg, commission chairman, questioned.

Murray said about $155,000 of that amount was depreciation of assets.

The solid wast fund came out ahead, with a profit of $335,472, and that there has been no new debt incurred at the landfill. The issue for the county to be concerned about, he explained, will be studying the closer and post closure cost at the landfill.

"When the landfill's full," Murray said, "you have to go through a closure process and will have to monitor it for post closure 30 years after that. Your financial statements will have to reflect the cost of that as if it were going to happen today."

Murray said there would need to be estimates on what it might cost and from year to year the number can change based on inflation and available technology.

Overall, he sang the praises of the county's staff, saying that there were fewer audit adjustments than there had been in five years, and that there were no disagreements between the auditors and the county employees during the process.

"We appreciate your kind comments about our financial staff. We know they're good, but it's good to hear it from an expert," Gregg said.

Sarah Moses can be reached at smoses@times-news.com.