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Finance staff says external audit on track; six programs identified for single-audit coverage
Summary
Finance staff updated the Audit Committee on the county’s external audit contract, changes to pricing, and the single-audit process identifying six major federal and state programs to be tested.
Buncombe County finance staff told the Audit Committee the county’s external audit engagement is proceeding with a revised contract price and an updated timeline, and that auditors have identified six major programs for single-audit testing.
Mason, a finance presenter, said the county and its auditors negotiated a lower overall contract amount from an original not-to-exceed figure and that the firm agreed to hold base rates at last year’s level. "So, we are in our third year of the base 3 years of our contract... they held our base number at the... $20.24 amount," Mason said, characterizing the pricing changes as favorable for the county.
The finance update outlined a timeline that aims to complete the audit work for presentation to commissioners in late November to December; Mason noted the state statutory audit deadline changed from October 31 to December 31 this year, giving more time for completion. The department is targeting November 30 for delivery to the county and hopes to present the final audit to the board in January if meeting schedules require it.
The auditors have identified six programs that will be treated as major programs for single-audit purposes. Mason listed federal programs (Medicaid, foster care and FEMA-related disaster funds) and state-designated programs (JCPC, Hurricane Helene essential functions/supplemental assistance, and two rounds of state cash-flow loans). "As you'll see at the top of the slide, our current focus is single audit grant compliance," Mason said.
Mason said the base audit contract includes coverage of five programs and the county is using available contract capacity to add one more program for an additional stated program fee. He also said the county awaits federal guidance to determine whether certain ARPA/relief funds will require additional testing as major programs.
Committee members praised the working relationship with the selected audit firm. Mason said the county has relied on the auditors throughout the year — not just at year-end — and described the firm as responsive and technically helpful on new accounting issues, including state and FEMA guidance.
No formal committee action was recorded on the external audit update; the item was presented as an informational update.
