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Alleghany County audit: unmodified opinion, three repeat findings and new opioid fund reporting
Summary
Auditor Scott Wickham presented Alleghany County's FY2024 audit, reporting a clean (unmodified) opinion while noting three repeat findings and the addition of an opioid settlement fund as a major fund.
Alleghany County received an unmodified (clean) audit opinion for fiscal year 2024, the county's outside auditor told the Board of Commissioners at the mid‑month meeting. "The county received an unmodified opinion which is a clean opinion," said Scott Wickham, partner in charge of the county's audit.
Wickham said the audit includes the usual management discussion and analysis, fund financial statements and new reporting for an opioid settlement fund that became a major fund in FY2024. "Exhibit 13 is new this year for you all. It's on page 27. This is the opioid settlement fund... this report includes exhibit 13," Wickham said, adding the change required moving that exhibit ahead of the notes at the request of the Local Government Commission (LGC).
The auditor reported three findings on page 118 of the report; each had appeared in the prior year. The items noted were proposed audit adjustments (significant accruals identified during the audit), weaknesses related to segregation of duties in a small finance department and bank reconciliation issues. Wickham said state and federal program testing returned clean results: "All of our testing came back clean," he said of state single audit testing and federal program testing.
Wickham reviewed trend information showing general fund revenues rising roughly 6% per year across five years and expenditures up about 5% per year, with fund balance improving from well below recommended reserves to a reported 66% in the county's reporting (the LGC-reported median was 39%). He described the county's overall financial position as strong. "You are in a very strong financial spot now," Wickham said.
Wickham also noted upcoming changes in accounting standards that may affect future audits, including GASB Statement 101 (compensated absences) and later phases of Statement 103 (financial reporting model) that are expected to add a third budget column and additional disclosure requirements.
Commissioners and staff asked clarifying questions about state medians, prior findings and related audits (including work done for a volunteer fire department). Wickham said the finance office has been improving its use of the accounting system and that the audit process this year went smoothly.
The audit report and handout were provided to commissioners at the meeting; Wickham left contact information on the presentation handout for follow‑up questions.
