Carteret County audit: unmodified opinion, restatements for opioid receivable and GASB changes; Medicaid-eligibility control flagged

PB Mairs partner Robbie Bittner told commissioners the county received an unmodified (clean) opinion on its fiscal‑year financial statements; auditors identified two restatements and one material weakness in internal control.

Bittner said the restatements related to implementation of GASB Statement No. 100 and a timing/correction tied to opioid settlement receivable and deferred revenue amounts. The audit opinion itself remained unmodified, and auditors reported no instances of material noncompliance with federal or state grant programs. The firm did identify a material weakness related to internal control over Medicaid eligibility determinations.

County staff and the auditor walked through fiscal highlights: the county’s total amended budget for revenues and other sources was $130,320,000; total revenues received were about $124,600,000. The general fund ended the year in a strong financial position with an audited unassigned fund balance of $47,060,000, equal to about 43.88% of general fund expenditures, a metric rating agencies consider favorable.

Auditors noted $3,980,000 in lapsed salaries and benefits (vacancies/turnover), several under‑spent capital and maintenance projects, and $4,660,000 in investment earnings that contributed to the year’s net positive fund balance change. The firm also said timing of submission led to a single performance‑indicator concern: the late release of the audit relative to traditional deadlines; the Local Government Commission has set a new 12/31 deadline for future submissions.

Bittner reviewed other upcoming accounting standards (compensated‑absence considerations under future GASB guidance) and fielded commissioners’ questions about restatements and audit timing. County staff did not request formal board action; the presentation served as the required annual audit briefing.