County earns high marks in 2012

Hockley County earned high marks in its 2012 audit, commissioners learned Tuesday.

The county had total assets of $48,176,463 for the year, which included $18,064,937 in buildings.

The amount for buildings included a value of $14.8 million for the Mallet Event Center & Arena.

The county also bought equipment and furnishings for the Mallet, said Phelps Blume, a  certified public accountant with the firm of Myatt, Blume & Fidaleo.

After liabilities of $11,710,069 were subtracted, the county had a net position of $36,466,394.

The county had a fund balance of $10,948,606 as of Dec. 31, 2012. Blume said the county continues to build its fund balance.

He said the county’s investment earnings declined about $70,000 in 2012, the result of lower interest rates.

Hockley County collected $13,429,000 in property taxes in 2012.