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Wright County audit for fiscal 2024 receives unmodified opinion; auditors flag segregation‑of‑duties and reporting items
Summary
Gardner & Company presented Wright County's fiscal 2024 audit on March 17, 2025, issuing an unmodified opinion but citing routine internal‑control findings and adjustments related to opioid settlement accounting and classification of capital asset proceeds. The board accepted the audit.
Gardner & Company presented Wright County’s fiscal year 2024 audit during the March 17, 2025, meeting and issued an unmodified opinion on the county’s financial statements, the auditors said.
The audit presentation, delivered by Elizabeth Taylor of Gardner & Company, noted that the firm ‘‘have issued an unmodified opinion on your financial statements,’’ meaning the auditors believe the statements are fairly presented based on tests and samples, Taylor said. The firm reviewed the county’s full accrual, modified accrual (GAAP), and cash‑basis budget reports and discussed differences among those presentations.
Why this matters: an unmodified opinion is the standard auditors seek; however, the report included findings the board should address. Taylor highlighted recurring internal‑control issues including segregation of duties — a common concern in smaller jurisdictions where one employee may perform multiple cash‑handling tasks — and the county’s lack of an on‑staff CPA to prepare GAAP financial statements and required disclosures.
Auditors also reported financial‑reporting adjustments made during the audit. Those included reclassification of a material receipt that had been recorded as proceeds from sale of capital assets and the identification and recording of material opioid‑settlement receivables and deferred inflows that had not previously been included. Taylor said Gardner & Company provided proposed adjusting journal entries that the county accepted so those items appear correctly in the fiscal‑year report.
The audit included required code‑of‑Iowa compliance testing (the auditors referenced chapter 11 of the Code of Iowa), budget‑to‑actual comparisons and schedules of capital assets and debt. The auditors said no new Governmental Accounting Standards Board statements required implementation this year. They also noted a prior deposit resolution had left some county funds briefly in excess of depository limits and said that the county had adopted a new deposit resolution to address the issue.
Board action: the board formally received and approved the fiscal 2024 audit after the presentation. A recorded motion to receive the audit carried on a voice vote.
What auditors recommended or flagged: Taylor recommended ongoing attention to segregation of duties and continued documentation of opioid settlement schedules so multi‑year receipts are tracked; she also commended county staff for work on capital asset records and said several adjustments were properly made during the audit.
The county’s audit book includes detailed fund schedules, notes, internal‑control findings and supplemental schedules that county staff can use for budgeting and long‑range financial planning.
