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Placer County audit committee flags material weaknesses; pushes staff training and job‑spec updates
Summary
The Placer County Audit Committee presented its annual report noting two material weaknesses tied to financial reporting for grant and capital projects; the committee urged expanded accounting training for departmental fiscal staff and updating county job classifications to reflect government fund accounting.
The Placer County Audit Committee reported to the Board of Supervisors on Oct. 7 that the county continues to be categorized as a “high‑risk auditee” following external audits that identified material weaknesses in financial reporting for fiscal year results.
Jay Panzica, chair of the independent audit committee, summarized findings from the county’s external auditors (LSL): two material weaknesses—one for an inaccurate reporting of roughly $2.4 million in grant expenditures in the capital projects fund, and another related to the improper recognition of $3.5 million in revenues…
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