Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the County Finance Audit topic
No spam. Unsubscribe anytime.
County auditors report clean opinion, GAAP updates ahead; $11M carryforward confirmed
Summary
External auditors and county finance staff told supervisors the audited financial statements contained no governance-level findings, highlighted upcoming GASB changes and confirmed a roughly $11 million general-fund carryforward that staff expect to use for one-time projects.
Auditors summarized the county's audited financial statements and related reports for the Board of Supervisors, saying they found no governance-level deficiencies and identified no fraud or legal acts during the audit.
Acting Auditor-Controller-Treasurer-Tax Collector Sarah Pierce said required supplementary information and other supplemental sections received limited procedures and that the county provided its management representation letters before report issuance. Auditors noted a new Governmental Accounting Standards Board standard (GASB Statement No. 101 on compensated absences) will change how compensated absences are calculated starting with fiscal year 2025.
Chief Executive Officer Darcy Antal and county staff told supervisors the draft annual comprehensive financial report (ACFR) would show a general-fund carryforward of a little over $11,000,000. Antal said staff expect to return in February with a consent item to transfer $7,000,000 of that carryforward to pay for the behavioral-health wing of the county jail, an item discussed earlier in the fiscal year.
Supervisors praised the finance and audit teams for improved reporting timeliness and transparency. Pierce and staff explained that some financial schedules (for example, revenue lines such as property tax or transient occupancy tax) are received or posted on a lagged schedule and that the ACFR's period-end snapshots can change as later receipts and journal entries are posted.
Why this matters: The audited statements and the $11 million carryforward frame budget choices for the upcoming fiscal year and inform the board's deliberations about one-time versus ongoing spending. Changes to GASB rules also may affect how certain liabilities are displayed in future reports.
