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County auditor issues clean opinion on FY24 finances; notes adjustments from prior administration
Summary
Auditor Michael Lupton presented the Amelia County FY2024 audit, issuing an unmodified (clean) opinion while reporting a significant control deficiency tied to material audit adjustments, largely arising from the prior financial director's period. Single-audit of federal programs showed no instances of noncompliance.
Michael Lupton, partner in charge of the Amelia County audit engagement, told the Board of Supervisors that the fiscal year ended June 30, 2024 financial statements received an unmodified (clean) opinion.
Lupton said auditors identified a significant deficiency related to material audit adjustments proposed during the audit process; the majority of those adjustments corrected items from the prior financial director's period. He recommended management attention to internal controls and noted the county had made progress in reducing audit timelines.
Key figures Lupton highlighted from the financial statements include about $24.3 million in total governmental fund assets, total governmental revenues of about $28.5 million, total governmental expenditures of about $28.8 million and an unassigned general fund balance near $5.3 million as of June 30, 2024. The sanitary district proprietary fund showed operating revenue of about $569,000 and an operating loss (including depreciation) of about $141,000, with an ending net position near $4.5 million.
Lupton also reported results of the single-audit of federal programs (required when an entity expends more than $750,000 in federal awards). The audit covered the community facilities loans and grants program, ARPA funds (Coronavirus State and Local Fiscal Recovery Funds) and the education stabilization fund; auditors found no instances of noncompliance for those programs.
County staff and supervisors thanked auditors and county finance staff for completing the audit earlier than the previous year. County staff said they will continue to implement new internal-control policies discussed during the audit.
The board did not take a separate formal vote to accept the audit during the portion of the transcript provided; the presentation was followed by questions and comments from supervisors and staff.
