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County audit reveals critical financial reporting delays

July 30, 2024 | Calvert County, Maryland



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This article was created by AI summarizing key points discussed. AI makes mistakes, so for full details and context, please refer to the video of the full meeting. Please report any errors so we can fix them. Report an error »

County audit reveals critical financial reporting delays
In a recent government meeting, officials outlined a timeline for the upcoming public review and hearings related to the 2024 draft plan, with a draft expected by the end of August. The public comment period will commence at that time, with comments due by September 27. The planning commission is scheduled to hold a public hearing on November 20, followed by another on December 10 with the Board of County Commissioners (VOCC). Officials emphasized the importance of adhering to this timeline to ensure the process is completed by the end of the year.

The meeting also featured a presentation from the Department of Finance and Budget regarding the fiscal year 2023 audit. Chris Lehman, the engagement partner from SPC Business Advisors, reported that the county received a clean audit opinion, indicating that the financial statements were free from material misstatement. However, he noted a material weakness in internal controls due to delays in receiving necessary data for the audit. Despite this, there were no findings from the federally mandated single audit, which assesses compliance with federal funding requirements.

Lehman highlighted the importance of timely data submission and recommended that management implement processes to monitor deadlines more closely to avoid future delays. Management responded positively, indicating that steps have already been taken to improve the audit process for the upcoming fiscal year.

During the public comment segment, resident Myra Gowans raised concerns regarding the legislative and legal oversight of the Lusby Villas project. She questioned the validity of a memorandum of understanding related to the project, citing discrepancies in signatures and the absence of notarization. Gowans urged the commissioners to address these issues promptly, emphasizing the potential legal implications of the document's validity.

The meeting concluded with no further public comments, and officials expressed their commitment to maintaining transparency and accountability in the county's financial and planning processes.

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