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County auditor reports clean opinion, flags fund balance and capital spending trends
Summary
Baker Tilly presented Dane County—inancial audit highlights, reporting an unmodified opinion on the fiscal year financial statements while noting a $19 million decline in general fund balance and a rise in unspent capital project bond proceeds.
John Raider, an auditor from Baker Tilly, told the Personnel & Finance Committee that the firm issued an unmodified ("clean") opinion on Dane County—inancial statements and found no material journal entries during the audit cycle. He said the county implemented recent Governmental Accounting Standards Board guidance (including GASB 101) without material effect on the statements.
Raider said the county—ontinues to prepare its financial reports under GAAP and that the management discussion and analysis (MD&A) and GFOA statistical schedules provide useful trend context. He summarized key metrics:…
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