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Upson County auditors deliver clean opinion on 2024 financial statements; commissioners approve audit
Summary
Auditors reported an expected unmodified (clean) opinion on Upson County’s 2024 financial statements, no material weaknesses in internal control, and recommended preparing an annual comprehensive financial report; commissioners approved the audit.
Upson County commissioners unanimously approved the county’s 2024 financial audit on Tuesday after auditors from Nichols Collin Associates reported an expected unmodified opinion on the county’s basic financial statements and no material weaknesses in internal control.
Greg Chapman, audit partner at Nichols Collin Associates, told the board the auditors expected to issue an “unmodified opinion,” commonly called a clean opinion, and that the audit package would include the governmental auditing standards-required letter disclosing any significant deficiencies. “I am happy to report that we have none of those this year in our report,” Chapman said.
Chapman reviewed key figures from the audit: total assets and deferred outflows of about $106 million, including about $67 million in capital assets (net of depreciation) and roughly $34 million in cash; $41 million in liabilities and deferred inflows; and a net position near $65 million. The county’s general fund showed roughly $18.1 million in revenues and $19.1 million in expenditures, with a final fund balance of about $10.6 million — representing roughly 5.9 months of expenditures in unassigned fund balance, within the Government Finance Officers Association recommended range of three to six months.
Enterprise funds were mixed, Chapman said: the water system reported an increase in net position of about $68,000, and the solid-waste fund showed a decrease of about $197,000. The auditors said there were no uncorrected misstatements and that the audit was performed under generally accepted auditing standards and governmental auditing standards.
Chapman and county staff discussed plans to prepare a more detailed annual comprehensive financial report to provide up to 10 years of historical data for greater transparency and to seek review by the Government Finance Officers Association. A motion to approve the audit as presented carried on a unanimous vote: Commissioner Jones — yes; Commissioner Biggs — yes; Vice Chair Watson — yes.
