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Kane County audit: unmodified opinion, four compliance items flagged for correction
Summary
External auditors issued an unmodified (clean) opinion on Kane County’s 2023 financial statements but reported four compliance/internal-control items—late deposits, a fund over‑expenditure, missing fraud risk assessment approval, and delayed posting of approved minutes—that commissioners pledged to address.
External auditors told the commission on Oct. 22 that Kane County’s 2023 financial statements received an unmodified opinion, indicating the auditors concluded the statements were presented fairly in all material respects under U.S. generally accepted accounting principles. Auditor Rick Roberts summarized the audit scope and noted an overall increase in the county’s net position during 2023.
Auditors reviewed notes, component units and fund statements and explained the single‑audit process required because the county expended federal funds exceeding the single‑audit threshold. They reported no material misstatements in the tested federal program and issued an opinion the county complied, in all material respects, with applicable compliance requirements for the major federal program tested.
In the compliance and internal‑control section, auditors identified four findings and relayed the county’s responses: (1) some receipts were not deposited within three business days as required by state law; (2) expenditures in the TRCC fund exceeded amounts appropriated in the final adopted budget, requiring corrective transfers or budget amendments; (3) a fraud risk assessment had not been prepared, approved by the CAO/CFO, or presented in a commission meeting (the county indicated it will prepare and approve one in the coming year); and (4) some commission meeting minutes were not posted to the public notice website within three days of approval (county will work toward compliance).
Auditors commended county staff for resolving a prior capital‑asset recording finding from 2021–2022. Commissioners and staff discussed the potential benefit of implementing a new accounting system to improve controls and efficiency; staff said IT is planning implementation in 2025 if schedules hold. The audit report is posted on the state auditor website; commissioners requested a county website link to make the report easier for local residents to find.
The auditors offered to answer follow‑up questions and staff identified next steps to address the four findings in the audit’s compliance section.
