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Edelen releases county audit

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State Auditor Adam Edelen released the audit of LaRue Fiscal Court for year ending June 30, 2012.

The fiscal court had total net assets of $10,704.678. Debt principal was $2,544,664.

The county owns vehicles and equipment valued at $458,483.

The county collected $1,423.347 in taxes; $1,76,157 in licenses and permits.

The road fund had an ending balance of $231,692. The jail fund was in the red $188,776.

The fiscal court entered into a lease-purchase agreement with Kentucky Association of Counties Leasing Trust in 2007 for the amount of $1,072,000 for the renovation of the LaRue County Golf Association’s golf course. The principal amount of $967,000 was outstanding as of June 30.

Long-term debt includes $385,000 borrowed at 4.25 percent interest for 15 years in 1997 for purchase of property for the road garage.