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Audit: Marion County receives unmodified opinion on most activities but audit flags budget monitoring and control weaknesses
Summary
County auditor Brenda Jackson presented the fiscal-year audit: unmodified opinion for governmental activities, disclaimer for library component unit, declining unrestricted cash, large long-term liabilities, and findings including a material weakness for budget monitoring and single-audit compliance issues for FAA-funded work.
Brenda Jackson of Ken and Carling Company presented Marion County’s independent auditor’s report and financial statements to the Marion County Council, summarizing key balances and audit findings.
Jackson said the audit produced an unmodified opinion on governmental activities and the county’s major funds but included a disclaimer of opinion for the county’s component unit, the Marion County Library, because the library’s audit was not complete in time to include its audited financial statements. “You have a disclaimer of opinion on the component units of Marion County,” Jackson said.
Jackson reported cash and fund figures: unrestricted cash of about $1,500,000 (down from $3,700,000 the prior year) and restricted cash of about $16,700,000. Total assets were reported at approximately $81,200,000, with fixed assets near $32,200,000. Long-term debt for bonds and leases was about $12,300,000. Jackson also highlighted long-term…
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