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County receives clean audit, auditor notes reserves and ARPA spending
Summary
Williams & Company presented Woodbury County's FY2024 certified annual financial report, issuing an unmodified (clean) opinion, noting general fund days of reserves, a breakout of general‑fund components, and ARPA federal awards totaling about $10.1 million of $13.1 million in federal expenditures for the year.
Williams & Company auditor Chad (last name given in packet as Rainier) presented the Woodbury County Certified Annual Financial Report for fiscal year 2024 at the July 22 meeting, reporting an unmodified (clean) opinion on the financial statements.
Chad told the board the audit includes a detailed management discussion and analysis and a multi‑fund presentation that shows what the county owns and owes on a full‑accrual basis. He highlighted fund‑balance details: on June 30, 2024 the county’s unassigned reserves equated to about 102 days of operating expenses for the general fund; when the basic general fund is broken out separately, that measure increases to about 127 days. The auditor said a breakout of roughly 11 component funds grouped in the general fund is included in the report to increase transparency.
Chad also outlined that the county’s Schedule of Expenditures of Federal Awards (SEFA) reported approximately $13.1 million in federal awards for the year, of which about $10.1 million were American Rescue Plan Act (ARPA) funds. He said ARPA funds remaining at 06/30/2024 must be spent by Dec. 31, 2026. The single‑audit testing concentrated on the ARPA program because of its size; Chad reported no findings required to be reported under uniform guidance for the tested programs. The audit’s only routine reportable item was a finding for material adjusting journal entries, a common housekeeping item Chad said affects many clients.
The board voted 5–0 to receive the certified annual report.
Key details cited by the auditor
- Independent auditors’ report: unmodified (clean) opinion on the FY2024 financial statements. - General fund unassigned reserves: approximately 102 days; general basic fund: approximately 127 days. - SEFA total federal awards: ~$13,100,000; ARPA portion: ~$10,100,000 (subject to spending deadline December 31, 2026). - Single-audit results: no findings required to be reported for federal programs tested; one common finding for material adjusting journal entries.
What the board did
- Received the Woodbury County Certified Annual Financial Report for FY2024 (5–0).
