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Stephens County gets clean FY2024 audit; fund balance remains strong, FY25 Q2 revenues ahead of schedule
Summary
External auditor Malden & Jenkins issued an unmodified opinion on Stephens Countyfinancial statements as of June 30, 2024; auditors noted one recurring segregation-of-duties finding. Finance director reported second-quarter FY25 revenues above typical midyear levels and a 50% general fund reserve.
Josh Carroll, partner at Malden & Jenkins, told the Stephens County Board of Commissioners that the firm issued an unmodified (clean) opinion on the county's financial statements for the year ended June 30, 2024. Carroll said the audit covers the county's main funds and federal grant activity but not separate component units such as the Board of Health, Development Authority or Hospital Authority, which are audited separately.
The audit found no audit adjustments and produced a clean report on compliance and controls, Carroll said: "we did issue an unmodified or a clean opinion, which is what you would hope to receive." He told commissioners the firm tested major financial cycles (receipts, disbursements, payroll and employee onboarding/termination) and audited three large federal grants, including one to the sheriff's office, and found the county's grant compliance acceptable.
Carrol…
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