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Lake County accepts 2023 audited financial statements after auditors cite material weaknesses and federal reporting lapses
Summary
The Lake County Board of County Commissioners accepted the county's 2023 audited financial statements on Jan. 13 after external auditors issued an unmodified opinion but reported material weaknesses in financial reporting and compliance findings related to federal grant reporting, including late ARPA reports.
Lake County commissioners on Jan. 13 accepted the county's 2023 audited financial statements after external auditors issued an unmodified opinion while identifying material weaknesses in the county's financial reporting and compliance issues with federal grant reporting.
Dimitri Churniak, an auditor with DMC Auditing and Consulting LLC, told the board the firm issued a clean (unmodified) opinion on the county's financial statements and on the county's single-audit compliance work but found a "significant number of misstatements" and a material weakness in controls over financial reporting. "You do have an unmodified opinion, which is considered a clean opinion of the financial statements," Churniak said, adding the firm also performed the single…
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