Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Audit Finance topic
No spam. Unsubscribe anytime.
Audit shows strong general fund balance but finds material weaknesses in grant reporting and internal controls
Summary
County auditors issued an unmodified opinion on Okeechobee County’s FY24 financial statements but flagged material weaknesses in internal controls over grant reporting and the single audit of federal and state programs.
CliftonLarsonAllen representatives presented a high‑level summary of the county’s audited FY24 financial statements. The auditors issued an unmodified opinion on the county’s consolidated financial statements while reporting material weaknesses related to internal control over financial reporting and multiple findings in the single‑audit required for federal and state grant programs.
Julie, the lead auditor from CliftonLarsonAllen, told the board the audit included a separate single‑audit of major federal and state grant programs; the single‑audit identified four material weaknesses and several written findings tied to grant reporting, including errors in the schedule of expenditures of federal awards and inconsistent review procedures across county departments. She said grant administration is decentralized across county departments and that “there aren't good review procedures in place that are not documented,” which contributed to reporting errors the auditor cited.
The audit summary also highlighted positive financial metrics: the county’s general fund fund balance grew by about $7 million in FY24 to roughly $27.8 million, equal to just under seven months of recurring general fund expenditures. The audit noted an apparent spike in consolidated revenues and expenditures for FY24 mostly attributable to bond proceeds and related debt transactions in the capital fund rather than a recurring operational windfall.
Board members thanked audit and county staff for the work and pointed to ongoing steps to strengthen controls. County administration told the board that the county had already procured grant-management software to help standardize procedures across departments and that staff including the clerk’s office participated heavily in the year‑end close and audit preparation. The auditor said she appreciated staff cooperation and that management is already working on corrective action plans for the written findings.
No formal action was taken at the meeting; staff said they will return with follow‑up on corrective actions and timelines.
