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Auditor: Okaloosa County posts unmodified opinion; restatement limited to housing trust accounting
Summary
An independent audit of Okaloosa County’s fiscal 2024 finances returned an unmodified opinion while reporting a GAAP restatement in the Local Housing Assistance Trust Fund that county staff self‑identified and corrected.
Okaloosa County’s independent auditors gave the county an unmodified opinion on its annual comprehensive financial report for the year ended Sept. 30, 2024, while noting a single accounting restatement in a housing trust fund.
The auditor said the county’s financial statements “fairly represent the financial position of the County in all material respects in accordance with generally accepted accounting principles,” and reported that a restatement affected the Local Housing Assistance Trust Fund because program income and interest previously had been deferred instead of recognized when earned.
The restatement was self‑detected by county personnel and corrected during the…
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