County auditor issues unmodified opinion; audit flags appropriations and internal-entry findings

Scott Wigum, partner in charge of the county audit, told the Grayson County Board of Supervisors that the 2024 audit produced an unmodified (unqualified) opinion, meaning the auditor found the county’s financial statements to be presented fairly. Wigum said the auditors issued two findings under Government Auditing Standards and a clean report under the Uniform Guidance testing for federal awards. He said one recurring issue was proposed journal entries and related internal-control weaknesses: "material weakness report for proposed auto grama entries" (as stated in the transcript). Another finding concerned certain non-general funds where expenditures were not fully appropriated, and Wigum urged closer budget monitoring. The audit showed a $142,000 operational cash-flow loss in the PSA fund for 2024 and a five-year revenue growth pattern in which property taxes accounted for roughly 46% of revenue; Wigum said overall revenues have grown about 8.5% annually over five years while operating expenditures have risen about 9–9.5% annually. He noted the county’s unassigned general fund balance stood at 18.12%, down from 23% two years earlier, and referenced the Government Finance Officers Association (GFOA) guidance that two months of operating expenditures (about 16.67%) is a common minimum target. Wigum said the audit team had provided a management letter with additional, nonmaterial recommendations. He confirmed that department-level recommendations were forwarded to county finance and school finance staff. Board action: supervisors received the audit presentation; there was no recorded formal board vote to accept the audit in the transcript. A supervisor asked whether the auditor had forwarded departmental recommendations; Wigum confirmed that he had forwarded them to county finance and school finance. Context and next steps: Wigum flagged upcoming changes under new GASB guidance for compensated absences that may alter presentation but are not expected to materially change operations. He recommended monitoring the shortfall trends and ensuring appropriations exist for all funds.