Clay County auditor presents clean 2024 audit; $13.6M in ARPA funds remain unspent

Clay County’s external auditor delivered a clean audit opinion for the fiscal year ended Dec. 31, 2024, and County Auditor Victor Hurlburt and Hood & Associates presented a popular annual financial summary that showed revenue growth, a higher net position and roughly $13.6 million in remaining American Rescue Plan Act funds.

Michael Keenan of Hood & Associates told the commission the auditors issued an unmodified opinion — commonly called a “clean” opinion — saying the county’s financial statements were fairly presented in all material respects and that auditors found no material weaknesses in internal controls and no material noncompliance with finance-related laws.

Why it matters

A clean audit signals that the county’s financial statements are reliable for decision-makers and the public. Auditor Victor Hurlburt said the county remains in a strong financial position, with total governmental revenues of about $112 million in 2024 and total expenditures of about $110 million.

Key takeaways from the audit presentation

- Auditors issued an unmodified (clean) opinion for 2024; no illegal acts or material misstatements were identified. (Hood & Associates) - The audit addressed the county’s financial statements and the single-audit of federal expenditures (ARPA was the major federal program reviewed). Auditors noted about $13.6 million in ARPA funds remain to be spent in upcoming fiscal years. (Hood & Associates / Auditor) - Fund balances: combined governmental fund balance was reported at about $60.6 million; the combined general fund balance was approximately $30.3 million (roughly 78.8% of general fund expenditures for 2024). (Auditor) - Net position increased to roughly $146.9 million (from about $131 million the prior year); about 62.9% of net position is invested in capital assets. (Auditor) - Long-term bonded debt is declining; the county’s outstanding long-term debt was reported at approximately $18 million (not including other liabilities such as pensions and leases). (Auditor) - Auditors offered three management letter suggestions: review financial policies/procedures alongside the new accounting system rollout; strengthen cybersecurity controls and training; monitor forthcoming accounting pronouncements. Management provided written responses and planned steps. (Hood & Associates)

Commissioner commentary and next steps

Commissioners responded positively to the presentation. Commissioner Johnson and Commissioner Lawson thanked the auditor and auditors for clear, usable reporting; commissioners asked for continued attention to the county’s accounting system implementation and cybersecurity recommendations.

Ending

The auditors offered to provide follow-up information on any specific audit items on request and noted they received full cooperation from county staff. The commission received the presentations; no formal vote was required beyond accepting the reports onto the record.

Speakers quoted in this article appear in the meeting record and are identified in the speakers list below.