Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Government Finance topic
No spam. Unsubscribe anytime.
Independent audit finds no material misstatements in Rio Blanco County 2024 financial statements; commissioners urged to watch budget-to-actual variances
Summary
Paul Miller, CPA, presented the county's 2024 audited financial statements and said the auditor issued an unmodified opinion; auditors flagged the budget-to-actual comparison as a key tool for commissioners to manage fiscal risks and urged continued attention to internal controls.
Paul Miller, CPA, presented the Rio Blanco County 2024 financial audit at the Sept. 23 work session and reported an unmodified (clean) audit opinion for the county’s basic financial statements.
Why it matters: An unmodified opinion indicates the auditors found that the county’s financial statements presented fairly, in all material respects, the county’s financial position for the year ending Dec. 31, 2024. The auditors emphasized the need for robust internal controls and active monthly oversight of the budget-to-actual reports to catch variances early.
Key audit points - Opinion: The auditors issued an unmodified opinion on the county’s 2024 financial statements. The auditor told commissioners the audit used the county’s internal controls and that changes in personnel make it important to keep policies and procedures up to date. - Management discussion and analysis: Miller directed commissioners to the management discussion and analysis (MD&A) section for high‑level comparisons between 2023 and 2024 results and to budget-to-actual reconciliation information. - Budget-to-actual review: The auditor emphasized that the budget-to-actual schedules (fund-level comparisons) are an important governance tool — commissioners should ask clarifying questions about any material over- or under‑budget items during the year rather than waiting until year-end accounting closes. - Other procedures: The county completed customary agreed‑upon procedures for the solid-waste landfill reporting and ratified required certifications to the Colorado Department of Public Health and Environment (CDPHE) as part of landfill financial assurance requirements.
Commissioner and staff follow-up - Commissioners asked about contingency balances and the auditor recommended tracking contingency use and moving recurring items into regular budget lines so the year-end reporting more closely reflects operations. - County staff said they will finalize single-audit reporting and file required federal/state submissions by the statutory deadlines.
Ending No changes to the financial statements were proposed at the Sept. 23 presentation. Staff and auditors agreed to continue monthly budget-to-actual monitoring and to move forward with mandated filings.
