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Auditors present 2024 draft financial statements; unmodified opinion expected
Summary
External auditors reported a draft, clean (unmodified) opinion on Seneca County's December 31, 2024 financial statements and single-audit compliance tests; general fund balances showed a small drawdown.
External auditors Dresher and Malachy presented the results of the audit of Seneca County’s financial statements for the year ended Dec. 31, 2024, and told supervisors they expect to issue an unmodified (clean) audit opinion and no federal compliance findings ahead of the county’s September 30 single-audit deadline.
Erica Hanley, director with Dresher and Malachy, said the firm had draft financial statements and planned to complete a few remaining items in coordination with county finance staff. “We do anticipate moving forward with what’s referred to as an unmodified opinion,” Hanley said. The auditors also reported no compliance findings on the five federal programs tested (airport improvement funds, social services block grant, medical assistance, supplemental nutrition, and American Rescue Plan funds) and no findings on New York State Department of Transportation awards.
Hanley reviewed the county’s general fund overview: total general fund revenues were about $83,000,000 in 2024 (a $2.3 million increase year over year) while expenditures rose to about $85,500,000, producing a general fund decrease of roughly $2.4 million and a total general fund balance of about $35,500,000. The unassigned (available) portion of fund balance was reported at approximately $12,175,000, which Hanley said equated to about 12.8% of next year’s appropriations—slightly below the county’s newly adopted policy target of 13–16%.
Hanley said a single accounting standard adoption affected the government-wide compensated absences liability this year (GASB Statement No. 101), but she described it as a presentation change rather than one that affects funding or the general fund balance. The auditors noted significant accounting estimates (compensated absences, net pension liability from New York State, workers’ compensation actuarial estimate) and said they judged management’s inputs as reasonable. The auditors reported no disagreements with county staff and thanked finance personnel for cooperation.
Board members asked when the final audit would be issued; Hanley said the single-audit filing deadline is Sept. 30 and the auditors expect issuance by then after final items are resolved with finance staff.
