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Joint select committee adopts Tennessee Treasury audit; auditors report "clean" opinions
Summary
A joint Tennessee legislative select committee voted to adopt the Department of Treasury financial-statement audit for the year ending June 30, 2024, after presenters said auditors issued unmodified (clean) opinions and found no reportable findings.
A joint select committee of the Tennessee General Assembly voted to adopt the Department of the Treasury’s audited financial statements for the year ending June 30, 2024, after auditors told the committee they issued unmodified opinions and found no reportable findings.
Aaron Kistler, legislative audit manager with the Division of State Audit, told the committee the audit covered the fiscal year ending June 30, 2024, and the audit report is dated Dec. 16, 2024. "We issued an unmodified or clean opinions on the treasurer's office financial statements, and provided these opinions to treasury management for inclusion in the state of Tennessee's treasurer's report," Kistler said. He listed funds included in the audit, among them ABLE TN; Chairs of Excellence Trust; the Criminal Injuries Compensation Fund; K–12 Mental Health Trust; the Pension Stabilization Reserve Trust; the State Pooled Investment Fund; Tennessee Promise Scholarship Endowment; Tennessee Retiree Group Trust; TNStars 529 College Savings Plan; and the Tennessee Consolidated Retirement System.
The audit presentation to the committee noted the financial-statement audits resulted in "no findings." After the presentation, the committee chair called for a motion to adopt the report. The motion "was properly moved and seconded," and the clerk recorded the roll-call vote.
Representatives casting recorded votes in the House were Hicks (Aye), Martin (Aye), Parkinson (Aye) and Williams (Aye). Senators casting recorded votes in the Senate were Lamar (Aye), Stevens (Aye) and Watson (Aye). The chair announced the motion "passes" and said the report will be transferred to the appropriate chambers.
The committee did not direct additional follow-up for the Treasury audit during the session. The adopted audit will be included in the State of Tennessee's treasurer's report as described by the auditor.
