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County finance staff and auditors report unmodified opinion on FY25 audit; reserves at 25%
Summary
SE Consulting and Washington County CFO presented a clean (unmodified) audit opinion for the FY ending 06/30/2025, reported no findings or fraud discovered to date, and detailed FY25 revenues of $329.1M, expenditures of $320.6M and general fund reserves of $82.3M (25%).
Kelsey Mace, Washington County’s chief financial officer, and SE Consulting presented the independent audit of the county’s fiscal 2025 financial statements, informing the Board of County Commissioners that the auditors issued an unmodified (clean) opinion and found no instances of fraud through their procedures.
SE Consulting said the financial statements “are reasonably free of material misstatement” and that the county’s control environment and key processes were effective for the period under audit. The presentation noted no material weaknesses, no proposed journal entries and no findings reported to date in the single-audit work required for federal funds.
Mace summarized fiscal-year results presented in the audit: the original general fund budget was about $300.6 million, adjusted to a final budget near $300.8 million; total revenues were $329.1 million and total expenditures $320.6 million, producing excess revenues of $8.5 million. The county’s general fund cash reserves were reported at $82.3 million, or 25% of general-fund revenue, and the pension-fund funding status reached 80.77% after supplemental contributions.
Commissioners and the auditors discussed audit process items. SE Consulting flagged that a common shortcoming in other jurisdictions is delaying the timely close of the books, which can cause problems, but the firm said Washington County’s records and responsiveness supported the clean opinion. Commissioner remarks praised finance staff for the audit outcome.
The presenters cautioned the board to account for external pressures as they develop the FY27 budget. Earlier in the meeting, staff noted the state’s revenue projections may show a significant shortfall that could lead to cuts or cost shifts affecting local grants and programs; county officials said they are considering those risks in upcoming budget work.
The board did not take separate formal action on the audit itself beyond receiving the presentation; financial figures and audit findings will feed into the FY27 budget process.
