Multnomah County accepts comprehensive financial report, audit finds no material misstatements

The Multnomah County Board of Commissioners on Tuesday voted to acknowledge receipt of the county's Annual Comprehensive Financial Report and other audit materials for the fiscal year ended June 30, 2024, and approved a resolution directing county management to address remaining findings.

The county's external auditors, Moss Adams, issued an unmodified opinion — the highest level of assurance — finding that the county's financial statements were prepared in accordance with generally accepted accounting principles. Ashley Austin, partner with Moss Adams, told the board: "Based on all of our audit procedures ... we issued an unmodified opinion, meaning our financial statements are prepared in accordance with GAAP and they're fairly presented."

Why it matters: a clean audit supports the county's access to federal and state grant funding and helps maintain favorable bond ratings. Eric Arellano, the county chief financial…