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County auditor issues clean opinion on Jefferson County 2024 financials
Summary
Sikich presented the county's fiscal year 2024 audit at the June board meeting, reporting an unmodified (clean) opinion, no internal control deficiencies, and implementation of a new GASB standard on compensated absences.
At its June meeting, Jefferson County heard from Sikich auditors, who reported an unmodified (clean) opinion on the county's financial statements for the fiscal year ended Dec. 31, 2024.
The audit firm's representative told the board the clean opinion means the county's financial statements are "fairly presented in accordance with generally accepted accounting principles." The auditor noted the county prepared its own annual comprehensive financial report and commended finance staff for producing statements that required no adjusting journal entries and revealed no internal control deficiencies.
The auditor highlighted one new Governmental Accounting Standards Board pronouncement, GASB Statement No. 101, which affects how compensated absences (chiefly sick time) are reported as liabilities. "County did a great job of going through assessing that standard, determining the impact, and doing the calculations," the auditor said.
The report also covered the required testing of federal and state grants; the auditor said there were no material weaknesses, significant deficiencies or noncompliance noted in grant testing and that clean reporting is expected for those areas as well.
The auditor recommended board members read the management's discussion and analysis section of the annual report for context about year-to-year changes. Board members asked no follow-up questions during the presentation.
The presentation preceded annual reports from county departments and committee business later in the meeting.
