Waldo County approves 2024 audit, new contract and finance advisory policies

Waldo County Commissioners unanimously accepted the 2024 audited financial statements, noting ongoing challenges with self-funded health insurance deficits and timely bank reconciliations. The board approved a new county contract policy requiring commissioner review of all agreements and established term limits and appointment procedures for the Finance Advisory Committee. Additionally, the county voted to switch workers' compensation insurance to MIMIC for an estimated $16,000 annual savings.

Key points

• Commissioners unanimously accepted the 2024 audit, which found no material weaknesses but noted recurring issues with timely bank and general ledger reconciliations.
• The board approved a new County Contract Policy effective immediately, mandating that all contracts, MOAs, and MOUs be filed with the County Clerk and reviewed by commissioners with a two-meeting window before signing.
• A new Finance Advisory Committee Policy was adopted, establishing two-year terms with a maximum of two consecutive terms, and requiring letters of interest for appointment.
• Commissioners voted to switch workers' compensation coverage from MMA to MIMIC, citing a $16,000 immediate savings and a future dividend program.
• Public comment included a request from a retired family doctor urging the county to use the community-based process for spending opioid settlement funds rather than exercising legal prerogative.
• The board approved a proclamation honoring Evan W. Cottrell of Stockton Springs for achieving the rank of Eagle Scout, a first for the county in 28 years.

Next steps

• The County Clerk will schedule a hearing for the Northport property tax abatement appeal for the next regular court session.
• The Finance Director will consult with a potential volunteer regarding a formal contract and NDA for assistance with bank reconciliations.
• The County Clerk will revise the County Contract Policy to include the two-meeting review window and return it for signature.
• The auditor will provide a narrated slideshow of the 2024 audit for posting on the county website.
• The County Clerk will finalize the Technology Policy and Employee Handbook sections for inclusion in the final handbook.

Read the full transcript The agenda