Fremont County accepts 2023 audit; auditor issues clean opinion, flags lease accounting and IT items

The Fremont County Board of County Commissioners voted 3-0 to accept the county2023 audited financial statements and accompanying management letter at a special meeting on a single agenda item.

Kyle Logan, owner of Logan and Associates, told the commissioners the audit produced an "unmodified opinion. What that means in layman's terms, that's a clean opinion." He summarized the county's financial position, highlighted key balances and reviewed findings from the single-audit compliance work and the management letter.

Logan said Fremont County reported about $90.2 million in total assets at Dec. 31, 2023, an increase of roughly $4.7 million from 2022. Capital assets were about $38.6 million (roughly 43% of assets) and cash and investments totaled about $39.8 million (about 44%). Liabilities were approximately $30.0 million, down about $3.2 million from 2022, primarily from debt paydowns and recognition of previously unspent grant revenue. Net position was about $52.8 million, an increase of about $7.4 million…