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Utah County audit receives clean opinion; general fund decline smaller than budgeted
Summary
Outside auditors reported an unmodified (clean) opinion on Utah County—inancial statements, noted a $2 million decrease in the general fund versus a $7 million planned decrease and a $25 million decline in the transportation projects fund tied to project spending.
Outside auditors presenting on behalf of Gilbert & Stewart told the Utah County Board of Commissioners that the county—inancial statements received an "unmodified opinion," the highest routine audit finding.
The auditor highlighted the management discussion and analysis and the two accounting presentations in the report, and described the financial statements as presenting fairly "in all material respects" the county's governmental and business-type activities. On fund changes he said the general fund balance decreased by about $2,000,000 during the year versus an originally budgeted $7,000,000 decrease. The transportation projects fund declined by about $25,000,000, which the auditor explained reflects project work completed in the year.
The auditor said the single-audit and compliance reports for federal and state programs are "basically completed" and are expected to receive clean opinions as well once final items are completed. He noted the management discussion, 10-year statistical tables and detailed notes are included in the full document for further review.
Commissioners thanked audit staff and noted the magnitude of the data in the 130-page draft; auditors said they would schedule an exit conference and provide management recommendations when the single-audit is finalized.
Next step: staff will review draft recommendations during the exit conference and return final reports to the commission when complete.
Quote: "The county received an unmodified opinion. That's a clean opinion," the auditor said.
