Pitkin County audits close 2024 with recommendations on cash reconciliation, landfill liability and federal grant reporting

Pitkin County officials heard a presentation on the county’s audited 2024 financial statements at a June 24 Board of County Commissioners work session, where outside auditors described generally strong controls but recommended fixes on reconciliations, federal grant capture and landfill liability assumptions.

The audit team from McMahon and Associates found the county’s financial statements to be materially correct and noted no disagreements with management, but recommended prioritized clean‑up of the general cash reconciliation and improved processes to ensure all federal awards are captured on the schedule of federal awards.

“The goal is to make sure that you have adequate internal controls and adequate reconciliations to produce materially correct financial statements,” said Paul Baucus, partner with McMahon and Associates. Baucus described the firm’s audit approach — planning, field work and reporting — and said the county’s annual report (the ACFR) is used by bondholders, insurers, banks and state and federal agencies.

Why it matters: the audited comprehensive financial report is the county’s official, publicly distributed accounting of revenues, expenses, assets and liabilities. Lenders, rating agencies and state…