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Finance reports treasury‑reconciliation progress; county audit likely to shift into January
Summary
Finance told the board outside consultants reconciled most non‑operating accounts through July; work on the county’s main operating account remains and auditors now project an audit date in January with a possible extension to March 31 to file financial statements.
Josephine County finance staff updated commissioners on Sept. 30 about ongoing treasury reconciliations that have delayed the county’s annual audit timetable.
Finance said an outside firm hired to assist treasury reconciled all accounts except the main operating account through July. The operating account — which contains the largest volume of transactions — remains in progress; staff and consultants said they expect it to be reconciled by October if work proceeds as planned, but the county’s audit may now be scheduled for January rather than October. Finance reported it has discussed requesting an extension to the secretary of state; staff suggested March 31 as a conservative deadline for completing single‑audit work tied to federal grant compliance.
Finance also said the department would propose an engagement letter for outsourced assistance to prepare financial statements and support the audit; commissioners were told that moving the audit into January will overlap with budget season and that temporary additional help might be released after the audit.
Why it matters: Timely reconciliations and audits are required for audited financial statements and for federal grant compliance. Delays can affect deadlines for audited financial statements filed with the state and for single‑audit requirements tied to federal grants.
Next steps
- Finance to present a draft engagement letter for additional accounting support and to coordinate with auditors on revised dates. - Staff will request an extension from the secretary of state as appropriate and report back when an audit schedule is confirmed.
