BDO issues clean opinion on Kenai Peninsula Borough 2024 financial statements; flags unusual EPA grant timing and control improvements

Joy Mariner, audit partner with BDO USA, told the Kenai Peninsula Borough Finance Committee on Wednesday that the firm issued an unmodified opinion on the boroughfinancial statements for the year ended June 30, 2024, and clean opinions on both the federal and state single-audit reports.

Mariner said BDO completed the audit on a normal schedule and issued the opinions on Nov. 22. "Unmodified is a clean opinion on the financial statements," she said, adding the single-audit work found no material compliance exceptions.

The audit presentation highlighted one unusual reporting situation tied to an EPA grant for a leachate project. Mariner said the borough incurred most costs in fiscal 2023 but the EPA did not sign the grant award until 2024. Because the grant award was not formally issued until 2024, BDO and borough staff changed the federal single-audit reporting so the award appears on the 2024…