, Corbin, KY

Local News

July 31, 2013

Knox receives positive audit

CORBIN — By John L. Ross / Staff Writer

Knox County Clerk Mike Corey and his staff got the good word on Monday.

State Auditor Adam Edelen released the 2012 financial statement audit of the clerk’s office, which is required annually by state law.

And, according to a press release from Edelen, all came out on top.

“(Edelen) noted no instances of non-compliance,” states the release. “The auditor also noted no matters involving internal control over financial reporting and its operation that were considered to be material weaknesses.”

Corey said he was pleased with the outcome.

“I have an excellent staff,” Corey said. “They deserve some of that credit.”

There were no surprises, however, that the audit was positive.

“We’re accustomed to a good audit,” Corey said. “But usually there are suggestions offered — that’s very unusual (that they didn’t offer any).”

He reiterated his appreciation of his staff of 12. “It speaks for itself,” Corey said. “I’ve got some excellent people.”

He said the clerk’s office works together to ensure finances remain intact. “We want it to be right,” Corey said. “Especially when we take care of everybody’s money.”

He has been in this position for about 15 years. “We strive hard to keep credibility in the system,” he added.

According to the executive summary released by Edelen Monday, the clerk’s office’s financial statement “presents fairly in all material respects, the revenues, expenditures, and excess fees in conformity with the regulatory basis of accounting.”

The summary also included a financial condition, which stated that excess fees for the clerk’s office decreased by $4,800 from the previous year. That left a balance of $246,284 at the end of December 2012.

The financial condition also noted there was an increase in revenues of $309,008 from the prior year. Expenditures increased by $313,808.

Total revenues for the year were a bit more than $8.14 million. That total breaks down as follows:

— State fees for services, $12,302;

— Fiscal Court, $8,288;

— Fees collected for services, $253,024; and

— Interest, $1,766.

Licenses and taxes are also part of the revenue total — that number tops $7.86 million. That breaks down into two categories — motor vehicle and other.

The motor vehicle category includes licenses and transfers ($1.24 million), usage tax ($3.64 million), and tangible personal property tax ($2.13 million).

The other category includes licenses for fish and game, marriage, and occupational, as well as lien release fees, deed transfer taxes and delinquent taxes. All those revenues total $774,007.

Total expenditures for the year were just under $7.8 million. That total breaks down as follows:

— Payments to state, including usage tax ($3.53 million), $5.45 million;

— Payments to Fiscal Court, including taxes, $293,871;

— Payments to other districts (taxes), $1.31 million;

— Payments to sheriff, $57,135;

— Payments to the county attorney, $105,753;

— Operating expenses, including salaries, benefits, contracted services and supplies, $572,144;

— Debt service, $2,695.

All members of the Knox County Fiscal Court, Judge/Executive J.M. Hall and Corey all should receive copies of the audit results.

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