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Committee raises questions about prior-audit adjustments after large fund reallocation; schedules follow-up
Summary
Finance committee members pressed staff on a set of prior-year audit adjustments that shifted more than $1 million among county funds. Members asked outside auditors to explain the entries and agreed to schedule a special meeting to review the journal entries and reconciliation work papers.
Committee members asked staff to explain journal entries made to clear a prior-year accounts-receivable balance and to reallocate funds across multiple county accounts. A finance staff member said outside auditors had removed a prior-year accounts receivable of roughly $1.1 million and reallocated balances across funds to bring the books into balance for audit preparation.
The staff account described adjustments that moved several large amounts among funds: for example, the nursing home and insurance funds gained…
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