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Independent auditor presents Miami County 2024 audit: statutory-basis statements, no material weaknesses reported
Summary
An independent auditor told Miami County commissioners on July 23 that the county’s financial statements were fairly presented on the statutory basis of accounting (KMAG), that federal ARPA funds were properly administered, and that the audit disclosed no material weaknesses or compliance findings requiring corrective action.
Harold, the county’s independent auditor, presented the Miami County audit at the commission’s July 23 study session and summarized financial results, compliance testing and audit opinions. Harold said the county opted to present financial statements on the statutory basis of accounting under the Kansas Municipal Audit and Accounting Guide (KMAG) rather than generally accepted accounting principles (GAAP). "You're not in accordance with generally accepted accounting principles. However, you are in accordance with the regulatory basis of accounting, which is sometimes referred to as Kansas Municipal Audit and Accounting Guide or KMAG," he said, and added his firm issued an unmodified (clean) opinion on the statutory-basis financial statements. Key figures Harold reported from the audit: the county’s…
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