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Independent auditor issues clean opinion on Madison County FY2024 financial statements
Summary
Robinson Farmer & Cox presented the FY2024 audit to the Board of Supervisors; the firm issued an unmodified opinion and reported no significant control deficiencies or compliance findings.
Auditors from Robinson Farmer & Cox reported an unmodified (clean) opinion on Madison County’s fiscal year 2024 financial statements during the March 11 Board of Supervisors meeting.
David Foley of Robinson Farmer & Cox told the board the firm issued an unmodified opinion — the cleanest opinion an auditor can give — and found no significant deficiencies or material weaknesses in internal control over financial reporting. The firm also performed the federal single‑audit procedures required when federal expenditures exceed the OMB threshold and found no reportable compliance findings for major federal programs.
Foley highlighted key fund‑level figures: the county general fund ended the fiscal year with total assets of about $36.5 million and total fund balance of approximately $27.7 million; unassigned fund balance was reported at roughly $14.5 million. On the statement of revenues and expenditures, Foley said the county reported $34.4 million in revenues and $31.2 million in expenditures in FY2024, producing a net increase in general fund balance of about $1.2 million for the fiscal year.
Foley commended county and school staff for their cooperation during the audit and said any audit adjustments were recorded in the county accounting system. The board thanked finance staff for their work and accepted the auditor’s presentation; auditors said they would return next year as part of the regular audit cycle.
