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County accepts 2024 independent audit showing no state or federal findings, notes small negative change in fund balance
Summary
Commissioners approved the St. Francois County independent audit for the year ended Dec. 31, 2024. Auditors reported no state or federal findings and a net negative change in fund balance of $186,803 for the general fund year.
St. Francois County commissioners approved the county's independent audit for the year ended Dec. 31, 2024, after a presentation by the auditor's office. Auditor staff reported no state or federal findings for the year and noted a small net negative change in fund balance for fiscal 2024.
Amber Mongelet, audit manager, summarized the audit and the county's financial position. The audit reports total county assets of $17,425,658, total revenues of $32,832,549 and total expenditures of $33,019,352, yielding a net change in fund balance of negative $186,803. Fiduciary (custodial) funds held by the county totaled $43,578,010 as of Dec. 31, 2024. Auditors also reported total grant expenditures (federal plus state as presented) of $3,532,556 for the year.
Mongelet told commissioners there were six consecutive years without audit findings beginning in 2019 and that the audit includes a review of internal controls. The presentation noted the federal single-audit threshold had been $750,000 for fiscal 2024 and will increase to $1,000,000 for the following audit cycle.
Commissioners heard staff note the county's trend toward spending more than recurring revenues and that planners had factored use of cash reserves and expiring ARPA funds into the 2025 budget. After discussion, the commission voted to accept the independent audit and to post the final report to the county website.
Motion to approve the audit passed by voice vote.
