Auditor issues unmodified opinion on Lackawanna County—s 2023 financial statements; general fund balance rises

Tim Meara, partner with Zelenkowski Axelrod, LLC, told the Lackawanna County Board of Commissioners at a public caucus that the firm issued an unmodified opinion on the county—s 2023 financial statements and found no internal control deficiencies requiring reporting.

The audit report shows the county—s governmental activities ended 2023 with a net position deficit of $76,800,000, a $16,700,000 improvement from 2022, Meara said. The general fund—s total fund balance rose to $19,800,000 in 2023, an increase of $3,900,000 from the prior year, driven by lower expenditures and other financing activity.

Those figures are reflected in the audited statements and supporting schedules cited by Meara; the auditor said the county—s financial statements "are fairly presented in all material respects in accordance with accounting principles generally accepted in the United States of America." He also said there were no management-letter issues identified during the audit.

Why it matters: Meara said the improved fund balance and more timely audit completion enhance how the county appears to rating agencies and lenders. "If we continue on this path, the 2024 audit will look better in…