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Sacramento LAFCO auditor issues clean opinion for FY 2023–24; notes one minor control deficiency
Summary
External auditor Spencer Blenda reported an unmodified (clean) opinion on Sacramento LAFCO’s fiscal year ended June 30, 2024, citing modest increases in revenue and assets, and one minor internal-control finding involving a $31 deposit-slip error. The presentation required no commission action.
Spencer Blenda, the engagement auditor for the fiscal year ended June 30, 2024, told the Sacramento Local Agency Formation Commission on Wednesday that the commission’s financial statements received an unmodified opinion and were fairly stated in accordance with U.S. generally accepted accounting principles.
Blenda said total assets increased by about $76,000 from the prior year, driven largely by higher interest earnings and project work for member districts. Revenues rose roughly $193,000 year over year, and expenses were up about $23,000. "We issued an unmodified opinion on the financials, which means that they are fairly stated and presented in accordance with the U.S. GAAP," Blenda said.
The auditor told commissioners the fieldwork found no material weaknesses. The audit did note one significant deficiency: an about $31 error on a deposit-slip item that was corrected in the financial statements. "It was only around the $31 error. So nothing major, and the financials were adjusted because of that," Blenda said.
Commissioners asked no follow-up questions. Executive Officer Jose Enriquez and staff assisted with the audit work, Blenda said, adding staff responsiveness was helpful during the process. Chair Lisa Kaplan thanked the auditor and commission staff and noted no formal action was required for the presentation; it was received as an informational item.
Why it matters: an unmodified opinion indicates the commission’s financial statements can be relied upon for decision-making and public reporting. The minor internal-control finding prompted only an adjustment and did not rise to the level of a material weakness.
The audit report packet referenced by Blenda includes the independent auditor’s report, the management’s discussion and analysis, and a communication letter to those charged with governance. The commission received the presentation; no vote was taken.
