Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the External Audit topic
No spam. Unsubscribe anytime.
External auditor gives Davis County a clean FY2023 opinion; no reportable control weaknesses
Summary
Carver, Floric & James presented the fiscal year 2023 audit to the Davis County Audit Committee Sept. 19, reporting an unmodified opinion under GAAP, no reportable internal control deficiencies, and no findings for major federal programs; auditors noted minor pass-through adjusting entries.
Jason Lund of Carver, Floric & James told the Davis County Audit Committee on Sept. 19 that the firm issued an unmodified opinion for the county's fiscal year 2023 financial statements. "It is our opinion that these financial statements are fairly presented in in all material respects in accordance with GAAP," Lund said.
Lund said the firm completed the single-audit procedures required when a government spends significant federal funds, noting that the county had five major federal programs under review and that the schedule of expenditures of federal awards showed about $26,200,000 of federal spending. He said the dollar threshold for Type A program testing for the county was $788,000 (higher than the usual $750,000 threshold because of the county's spending level). "We don't have any findings to report," Lund said, adding that the few adjusting entries identified related to pass-through transit funds and were treated as technical adjustments rather than material weaknesses.
The auditor described the engagement as largely educational and emphasized the division of work between the county's preparers and the audit firm: the county-prepared financial package runs longer than the firm's opinion pages, but the auditors said they performed detailed procedures over transaction classes to form their opinion. Committee members asked clarifying questions about the single-audit process and program selection; Lund explained how federal thresholds affect the number of programs selected for testing.
The committee also recognized the auditor's office for receiving the Certificate of Achievement in Financial Reporting for 30 consecutive years and noted that Doug Stone was named CPA of the Year by the UACPA. The committee thanked Lund and his team; Lund said he was available for questions and was excused after the presentation.
The committee's next regular meeting is scheduled for Nov. 4, 2024, when staff said they would provide additional updates if needed.
