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Avery County auditor delivers clean opinion; county net position rose about $9.4 million
Summary
An external auditor told the Board the county received a clean opinion on its financial statements and federal awards; the report detailed net position increases, capital purchases and grant spending.
An auditor presenting the county’s annual audit told the Board on March 3 that the county received a clean opinion on both the financial statements and the schedule of expenditures of federal and state awards.
"You did have a clean audit this year," the auditor said, and summarized the audit report that is included in the board packet.
The auditor said the county’s government-wide net position was $83,800,000 — an increase of $9,400,000 from the previous year. The auditor noted $41,600,000 of that net position is invested in capital assets, including construction in progress for projects such as the community room and a high school renovation.
The presentation highlighted the accounting treatment of long-term subscription contracts driven by recent guidance, noting the county recorded a subscription liability this year tied to equipment and software purchases (police body cameras, tasers, and software).
The audit reported approximately $3,500,000 in federal expenditures for the year and $1,900,000 in state expenditures. The auditor said no findings related to grant compliance or internal control were reported for the audited year.
The auditor reviewed disclosures for capital assets (about $2.9 million in additions, including land, ambulances, software and vehicles) and said notes payable were reduced by about $988,000.
The presenter also discussed timing issues common after large federally funded disaster responses, including reimbursement timing, accounting for receivables, and a possible change to single-audit thresholds under the Uniform Guidance that could reduce the county’s single-audit burden in future years. The auditor noted the state has extended audit due dates for the current fiscal year from Oct. 31 to Dec. 31.
Board members who asked questions were shown where to find the opinion letter, management’s discussion and analysis, and footnote details in the audit packet. The auditor said staff may follow up with written clarifications if commissioners have additional questions after reviewing the packet.
Why it matters: A clean audit affirms that the county’s financial statements and grant reporting met the auditor’s professional standards for the year under review; the report also explains new accounting treatments and near-term audit timing changes that could affect next year’s audit work plan.
