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County auditors report financials "fairly presented," flag TIF deficits and control gaps
Summary
External auditors presented the county's annual financial statements, concluding they are fairly presented while flagging deficits in several TIF funds, lease and pension disclosures, and internal control weaknesses including missing credit-card receipts and IT controls.
Auditors told the County Board that the county’s financial statements for the fiscal year are fairly presented but flagged several disclosures and internal-control recommendations for the board to address.
During a detailed walk-through, the auditor summarized fund‑level changes and footnote disclosures, noting the general fund dropped by about $304,000 and several tax-increment-financing (TIF) areas showed deficit balances because revenues to pay related debt have not yet been collected. The auditor said the county paid off its 2019 bond series during the year, which reduced balances in some funds.
The auditor singled out specific figures from the draft financial statements: rural services increased by about $63,000; secondary roads increased by about $37,000; an ethanol TIF area fell by about $278,000; nonmajor revenues rose roughly $311,000 overall;…
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