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Committee accepts 2024 Sheriff's Trust audit; auditor reports cleaner findings than prior year
Summary
The Insurance and Trust Committee accepted and placed on file the 2024 Sheriff's Trust audit after the external auditor described a clean opinion and fewer internal control comments than the prior audit; members asked for minor wording and clarification changes to the audit letter and discussed reserves disclosure.
The LaSalle County Insurance and Trust Committee voted to accept and place on file the 2024 LaSalle County Sheriff's Trust audit after the external auditor reported a clean opinion and fewer internal-control comments than the previous year.
Tanya Mack, the external auditor, was present for questions and confirmed the audit resulted in a clean opinion with no material weaknesses. “As the auditor, Miss Mack, acknowledged last time it was a clean audit,” a committee member said, adding that the engagement ran more smoothly this year because of increased familiarity between the auditor and county staff.
Committee members asked several clarifying questions about the audit documents. One member noted a small wording issue on the audit letter that used the phrase “Board of Directors”; the member said LaSalle County’s governing body for the trust is a Board of Trustees and asked for the terminology to be corrected for consistency with the county’s ordinance. “We are a Board of Trustees not directors,” the member said; the auditor agreed to check the wording for future reports.
Members also discussed a footnote added this year on outstanding reserves. The auditor explained the footnote clarifies that certain reserves were ordered but not recorded as payables at year end because they remained unresolved as of the reporting date and might or might not become liabilities depending on case outcomes. “Reserves are something that's a potential liability depending on what the result in the case is,” a committee member said; the auditor added, “That's why we note disclose it rather than representing the actual liability.”
The committee asked whether the absence of an investment policy addressing concentration of credit risk represented a deficiency. The auditor said it was not a reportable deficiency and noted the trust uses external investment firms. Committee members also observed the number of noted deficiencies dropped from three in the prior audit to one in the current period and said they understood the outstanding issues had been addressed.
After discussion, a committee member moved to accept and place the audit on file; the motion was seconded and approved by voice vote. The committee recorded the motion as carried.
