Independent auditor reports clean regulatory audit, highlights fund movements

James Gordon Associates audit partner Jacob Quioth presented the county’s annual audit for the year ended Dec. 31, 2024, telling commissioners Oct. 6 there were no material weaknesses or significant deficiencies identified and the single-audit report for federal grants had no findings.

Quioth said the firm issued an unmodified opinion on the county’s regulatory basis financial statements and an adverse opinion on U.S. GAAP under the accounting framework used for the audit (transcript: KMAG). He highlighted summary fund movements: the general fund ending cash was down about $10 million from the prior year, the disaster fund was down about $6 million, and the capital improvement fund was up about $13 million following transfers. Total cash in main operating funds was reported as roughly $61 million, and total cash on hand was reported at about $138 million (with approximately $77 million of that in agency funds, such as ad valorem tax collections).

Quioth reviewed notes and schedules, including budget violations (small overages in a few funds) and debt amortization schedules, and identified $8.7 million in federal grant expenditures for the year — largely CARES-era and WIC-related spending. A finding from the prior year related to a health department payroll procurement bonus was removed after corrective action.

Commissioners asked clarifying questions about fund balances and single-audit components. Quioth said fieldwork was completed without significant difficulty and thanked county staff for timely responses. He invited commissioners and staff to follow up with audit questions after the meeting.