OAG review finds Wayne County Land Bank financial statements fairly presented; auditors identify material weakness and $535,686 settlement accrual

The Office of the Auditor General recommended the Wayne County Commission receive and file its limited review of the Wayne County Land Bank Corporation audited financial statements for the year ended Sept. 30, 2024, after noting an unmodified audit opinion and one material weakness in internal control.

Sandra Allen, legislative auditor 3 with the OAG, told the Wayne County Commission Audit Committee that external auditor Plante Moran issued an unmodified opinion on the Land Bank's financial statements for the year ended Sept. 30, 2024, and provided a report on internal control and compliance. Allen said the OAG review identified one deficiency that the external auditor characterized as a material weakness—a failure to ensure identification and recording of all year-end closing entries before the audit commenced.

Anthony Cartwright, executive director of the Wayne County Land Bank Corporation, described the underlying issue as a settlement related to ongoing litigation with…