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Auditor gives Montgomery County a clean FY24 opinion, flags segregation-of-duties as ongoing issue
Summary
Private auditor Brown Edwards presented Montgomery County's comprehensive financial report for fiscal year 2024, issuing an unmodified (clean) opinion while flagging segregation-of-duties weaknesses and noting possible future arbitrage liability on bond proceeds.
John Aldridge of Brown Edwards & Company delivered the Montgomery County comprehensive annual financial report for fiscal year 2024 and said the firm issued an unmodified, or "clean," opinion on the county's financial statements.
The clean opinion, Aldridge told the Board of Supervisors on Jan. 13, covers four audited components: the county, the school board, the economic development authority and the public service authority (PSA). He reviewed the county's statement of financial position, long-term liabilities and the county's fund balance categories.
Aldridge highlighted several items of note for supervisors. The county reported $125 million in governmental activities assets and capital assets that…
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