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Independent auditors issue clean opinion on Wakulla County fiscal 2024 statements; single-audit clean for five grant programs
Summary
James Moore audit director Ben Clark presented the Wakulla County fiscal year 2024 audit to the Board; auditors issued an unmodified opinion, reported no single-audit findings on five grant programs, and noted a significant deficiency related to audit adjustments that has been corrected in the statements.
Ben Clark, audit director at James Moore (Tallahassee office), presented Wakulla County’s annual financial statements for the fiscal year ended Sept. 30, 2024, and reported an unmodified independent auditors’ opinion.
Clark said, “There’s an unmodified opinion, so that's the best opinion that you all can get as far as the annual financial statements go.” He explained the firm also completed a required single-audit compliance review because the county spent federal funds above the threshold; auditors examined five grant programs and “had no findings to report.”
The report included one significant deficiency related to audit adjustments — primarily fixed-asset and other balance corrections — that auditors described as corrected in the final statements. Clark explained the internal-control comment was not a material weakness and had been addressed during the audit.
Clark provided fund-balance context: the county’s unassigned general-fund balance increased to about $10.9 million and other fund balances totaled roughly $15 million, mostly restricted. He noted the Government Finance Officers Association (GFOA) guideline of about 16.7% for unassigned reserves and that Wakulla’s metric remains above that minimum. Clark reminded the board that the net pension liability shown in the statements (about $32 million) is an actuarial allocation to the Florida Retirement System and does not require an immediate cash payment.
The presentation was informational; the board scheduled follow-up questions for the audit committee and was advised the audit filing deadline is June 30.
