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Midland County receives clean audit for fiscal year 2024, Weaver reports
Summary
External auditor Weaver presented Midland County's fiscal year 2024 annual financial report and delivered an unmodified (clean) opinion, found no material weaknesses or single-audit findings, and noted the county qualified as a low-risk auditee. Commissioners acknowledged the report.
Rebecca Darling, the audit partner from Weaver, presented the annual financial report and audit results for Midland County for the year ended Sept. 30, 2024, and told the Commissioners Court the audit yielded a clean opinion.
Darling said the county received "an unmodified opinion" on both the financial statements and the federal and state awards audit and that Weaver found "no material weaknesses under financial reporting," "no significant deficiencies" and "no material noncompliance." She told the court the county qualified as a "low risk auditee," a designation that limits the scope of single-audit procedures.
The audit presentation included Weaver's work scope and key risk areas, including management override of controls and revenue recognition. Darling said the firm performed internal-control walkthroughs and tests of compliance for major federal and state programs, including review of American Rescue Plan Act (ARPA) spending: "We did look at the state and local fiscal recovery funds. That's the ARPA money that the county is spending down," and she reported no compliance or control findings for those awards.
Weaver highlighted budget-to-actual comparisons and several financial metrics from the draft annual comprehensive financial report (ACFR). The audit packet noted a positive variance in the general fund: the final amended budgeted revenue listed was approximately $136,000,000 and the reported actual general fund revenue was reported as about $172,000,000, a roughly 27% positive variance; expenditures came in below the final amended budget, producing a positive variance on the spending side as well. Weaver said the ACFR remained in draft at the time of the presentation but that the auditors did not expect material changes before issuance.
County staff and commissioners thanked Weaver's team and the county's finance, treasurer and purchasing staff for producing the ACFR and supporting the audit work. The court voted to acknowledge the audit report.
The audit team also explained that there were no disagreements with management, no independence issues, and that Weaver provided routine nonattest services (assistance drafting the ACFR) under policies that allow management to retain responsibility for financial statements. Darling noted upcoming accounting standard GASB 101 on compensated absences that the county will monitor for next year.
Commissioners voted to acknowledge the audit report at the meeting.
